Financial Crash
Financial Crash
Out of context: Reply #20
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- mrdobolina0
plus as jobs drift away, people are forced to re-finance so that they can keep their homes. Imagine making 60 grand a year as a machinist, living your life, dope car, big house. Wham, job moves to Mexico. Try to find a new machinist job paying that money. Use all your savings staying afloat, then what? unemployment runs out, you are seriously underemployed at some job that pays 30 percent of what you made before. You re-finance, pull out your equity. pay payments at a high rate, and so on.
Cant always blame people for being stupid.