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Rents
It is disturbing to see rents go up while home values plunge. The only real financial relief available to ordinary people has been a reduction in gas prices, and that's happening because so many people are out of work and retailers are shipping less because they're selling less. I have a feeling that "Black Friday," the day after Thanksgiving, will truly be the blackest Friday ever.
Charles Langley
Gasoline Analyst & Publisher, UCAN Watchdog
Another Option: Not Worried
I did not buy a house at the top of the market with a no down ARM
or use my house as an ATM with a HELOC to buy all kinds of crap, so I am not worried.
I saved, invested, pay off my credit cards, have no debts and was responsible,
but as a taxpayer I guess I will get to pay to bailout all the morons.
On a positive note, I will be able to buy your house for half or less than you overpaid for it.
or get a great deal on a new car as dealers are just about givig them away,
or get all kinds of great deal from retailers discounting for the holidays !
Keeping The Rent Paid
Frankly, I hope the category "saving my home" includes those who could never afford to buy a home in a decent neighborhood here in SD County, except under suicidal mortgage terms.
As one of those who saw this coming in 1999 and decided to keep renting, I have mixed feelings about the government bailing out sub-prime "homeowners" (they actually own very little, if anything of their home), while renters who lose their jobs get absolutely nothing.
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