In the 1980's and early 1990's, people bought a house. Then, the monthly payments went up and the homeowner was laid off just when he needed to increase his income but got a pink slip instead. The home owner got another job but the job paid subsistence wages. The spouse also got a job - but only with subsistence wages. The kids upon reaching 15 years of age got after school jobs but the money paid was barely "allowance" money. Real estate taxes went up - which was a killer blow. The Job Quality Index went into a nosedive. The dot.com Recession of 2000 and the 2008 Meltdown forced millions of Americans out of their homes.
No comments:
Post a Comment