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08-26-2007, 12:43 PM
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if the current nationwide foreclosure rate
continues & the banks own all the homes how will it affect the usa? Will this destroy the economy and will there no longer be any middle class just rich or poor ?
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08-26-2007, 04:57 PM
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None of that could happen. It finally made the news today on an intelligent network that 98.7% of the homes in America are not in forclosure. You just hear about the 1.3% because the media can get everyone in a frenzy and make some money. Hope this helps. There will always be a middle class BTW.
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08-26-2007, 06:20 PM
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Even with the "high" foreclosure rate the number of bank owned homes hardly compares to the number of homes owned by regular people. Also, banks try to sell homes as quickly as they can. The only reason why you hear so much about foreclosures is because of how much it hurts the rich (the banks).
Scott |
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