The Dangerous Gap

by alphamonkey on August 23, 2007 · 0 comments

in Uncategorized

median-income-priced-out.gifeFinance ran a great piece back in July illustrating the widening gulf between home prices and wages, and it’s a scary look at what’s happening with the housing market right now.

Foreclosures are up all over the country, the sub-prime market is flailing, and families are mortgaging themselves into bankruptcy, while the ‘cure’ I keep hearing over and over again is simply ‘lower the interest rates’ which, while I’m sure it might help as a short term stop-gap, certainly doesn’t address the more important (and long-term) problem of stagnant wages.

Thanks to Keanon for the link.

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