Sunday, August 28, 2005

Something else to worry about...

[See previous]

Equity Is Altering Spending Habits and View of Debt - Los Angeles Times

From the article:Also:You are a fool if Alan Greenspan is wrong when he says that people are investing in houses as if they are a one-way bet, not allowing for the risk of price falls and that “history had not dealt kindly” with investors who kept ignoring risks. If Greenspan is right, then there will be lots of people underwater in their mortgages, and that could be ugly.

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