Saturday, November 13, 2010

What living above our means has wrought...

When baby-boomers were building up their houses and gleefully borrowing from their home equity, did anybody stop and think who was going to afford their over-sized monstrosity?  Many of these same people did not set aside a dime for their children's education, but they still expected the youth of tomorrow to able to afford their suburban albatross.  We are all connected, and the housing mess has highlighted things we before took for granted.  This article discusses the economic eco-system that we inhabit, and the long-lost notion of mortgages and mobility.  If there is no-one now to buy your home, and the young and old alike are suffering.  Obviously things were not suppose to be this way, but the flushest generation in history--the baby-boomers, put most of their eggs in the mortgage basket, and have left us to pay for their unsustainable ways.

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