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View Diary: Housing Crisis, Potential Recession Loom Large in Battleground States (174 comments)

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  •  Because the people who are going to be hurt (5+ / 0-)

    worst are the younger, professional types, just starting out, who recently bought houses in hyped up areas, who have big, exotic, mortgages and a boatload of student loan debt.

    They won't be getting ahead at work as they expected, they won't have the equity in their house they expected, they won't be able to get rid of any of their debt (can't sell the house, can't get rid of student loans), and they're smart enough to know that the Dems didn't have control over anything until this year and the the Rs are STILL blocking them from doing anything constructive.

    The last revolution started when King George pissed off the lawyers, businessmen, and landowners. It's easy to keep peasants in line. Educated people are a little tougher to deal with.

    •  Not to Mention - (2+ / 0-)
      Recommended by:
      norm, opinionated

      Poor whites and minorities in older, urban, almost-redlined neighborhoods.  
      Foreclosures are impacting at least two groups. The one you describe and the working poor.  Both bought into the illusion of the adjustable rate mortgage.  I'm curious which group will receive the greatest government assistance and which group will bear the greatest hardships.

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