Money problems ahead

"‘Why Middle Class Mothers and Fathers Are Going Broke’: New book looks at how the ferocious bidding war for housing and education has quietly engulfed America’s suburbs"
and
"Going For Broke: Elizabeth Warren discusses how ordinary families wind up bankrupt and why new legislation could be hurting those at risk."
and the "neutron bomb" of the 21st century:
"Nightmare Mortgages: They promise the American Dream: A home of your own -- with ultra-low rates and payments anyone can afford. Now, the trap has sprung"

In summary, the American greed made 2 income necessary such that if one person loses a job, the house of cards comes apart and the couple ends up bankruptcy. And Warren argues that the current legislation makes everything worse but if you ask me, "you break it, you fix it" -- these people are not children and they need to take responsibility for what they got themselves into. And if they bought into the Real Estate Bubble with option ARM loan, they are in for a big surprise!

Copyright 2006, DannyHSDad, All Rights Reserved.