Sure, bad news for those who bought a home from 2002 to 2006 (to live in or to flip) and didn't heed the warnings to sell, and those who sucked fake equity out of their house and blew it.
Everyone else, they might not have the riches and windfall they thought they had, but for the most part, they'll be OK.
Unless they work at Countrywide. Or Home Depot. Or are realtors. Or work for homebuilder-ad supported newspapers. Or that donut shop. Or have anything to do with the REIC. Or live in Phoenix, or Miami, or San Diego, or DC.
Well, for that matter, maybe a lot of them won't be just fine.
But in the end, just a blip on the radar folks. The biggest blip ever, but just a blip on the radar...
September 27, 2006
Posted by blogger at 9/27/2006