Tonight’s Kerry/Bush debate apparently has no subject limits. So they damn well better tell me how they plan to address this:
Home Equity borrowing has jumped. People are leveraging high housing valuations to go deeper in debt.
But of course there are “some signs”:http://www.reviewjournal.com/lvrj_home/2004/Oct-05-Tue-2004/news/24917895.html we have reached the peak of inflated housing valuations, meaning some borrowers will never see the equity they leveraged.
Which is really a problem when you consider the almost $500,000 of “government debt”:http://www.detnews.com/2004/politics/0410/05/a04-293851.htm each household represents.
Trouble is brewing. We either need to cut spending or raise taxes. Ignoring the problem won’t make it go away.
What say you candidates?
No related posts.
Comments on this entry are closed.