This country is getting worse and worse because middle-income jobs like manufacturing and technical fields are going overseas because India and China are cheaper, capable, and harder working than Americans.....and while the baby-boomers are trying to help their kids get set up as they retire, they can't because property taxes went up a lot and social security is worth less....plus, the people from my generation (X) and gen Y are worthless idiots - so don't count on us so much to prop this country up And of course ppl are hiding how broke they are because they live on credit and as you can see as a real estate agent, we are just now starting to slowly see articles here and there about defaulted mortgages .... so obviously these idiots that bought a property with variable interest didn't understand what they were getting themselves into I got out of the military wanting to buy a condo of my own, but these faces buying properties they couldn't afford and more wealthy people who got sick of the stock market bought into the housing market and drove the price of that **** up....now I'm a 26 year old dude that lives with his family....but no worries here, I'm in school to become a doctor and do things the right way - not like these idio*s

I know people that have their credit cards all maxed out, live from paycheck to paycheck, yet they nervously maintain a beautifully owned home, have their 2 cars, etc. In reality they are living on the edge of disaster. One little bump in the road and it could be all over for them. It is going to get worse from what I understand, especially for a lot of people that didn't take the time to read the fine print on their mortage contracts with variable rates. A lot of people have realized the dream of owning their own homes by way of a variable rate contract. What a lot of them don't know is that the fine print tells them that the low rate is for 2 years only and that after that time their interest rate could rise as high as 18.25% thus significantly raising their mortgage payment and creating a population that is potentially going to have their homes foreclosed.