By using this site, you agree to our Privacy Policy and our Terms of Use. Close
HappySqurriel said:

Think about it this way, Americans will face:

  • Mortgages worth more than their house, effectively eliminating refinancing and home equity lines of credit
  • High credit card debt
  • Falling stock markets
  • Bank Failures
  • Higher unemployment
  • Tougher lending standards (often requiring 20% down to buy a home)

And you expect people to continue throwing away perfectly good TVs to buy a new TV because it is new?

 


Or think about it this way, the U.S. does not equate to worldwide.

A few of those case scenarios of yours still have yet come to pass, such as your higher unemployment example; still nowhere near as close as your country, the Great White North.