WatertheTree
Senior Member
- Sep 9, 2011
- 1,804
- 171
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Bottom Line - As home prices fall, more borrowers walk away
Here comes the correction Ron Paul has been talking about for the last 20 years. The game is over. The path we are on cannot be sustained. All gains in walstreet recently is inflation taking hold from the trillions of dollars printed. People cant afford to live in the states anymore.
This next election cycle is going to bring huge changes with it in our standards of living, and stability as a nation. We can either choose strong leadership that understands the problems with the economy and we can move to control the correction, or we can continue on the same path of more debt and wait untill it collapses in an uncontrollable slide that history shows will more then likely end in dictatorship.
Freedom or fascism. You decide.
Here comes the correction Ron Paul has been talking about for the last 20 years. The game is over. The path we are on cannot be sustained. All gains in walstreet recently is inflation taking hold from the trillions of dollars printed. People cant afford to live in the states anymore.
As home prices fall, more borrowers walk away
John Brecher / msnbc.com
David Martin, 68, in his home in north Seattle, Washington. He and his wife are facing retirement within five years, but their retirement income won't cover their mortgage.
By John W. Schoen, Senior Producer
When David Martin and his wife bought their north Seattle condo five years ago, they figured they had plenty of time to downsize if they needed to before they retired.
Now, with the property worth roughly $60,000 less than the balance of their mortgage, Martin, 68, has been giving serious thought to just walking away, a process lenders call "strategic default."
"Guilt and morality are one side, and objective financial analysis are on the other side," Martin said. "They're coming to two opposite conclusions. I wonder how many other people are struggling with the same question."
This next election cycle is going to bring huge changes with it in our standards of living, and stability as a nation. We can either choose strong leadership that understands the problems with the economy and we can move to control the correction, or we can continue on the same path of more debt and wait untill it collapses in an uncontrollable slide that history shows will more then likely end in dictatorship.
Freedom or fascism. You decide.