Foreclosures and Tumbling Prices are Telling on Family Relations

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Foreclosures and Tumbling Prices arae Telling on Family Relations

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The snowballing effect of the foreclosure crisis is leading to tumbling prices and telling on family relationships. It has even found its way into pop music culture. The impact is so severe because innumerable Americans have invested their wealth in real estate. In 1985 savings provided 12% of personal income that could be disposed while only 1% came from house equity as per the findings of Federal Reserves as well as Congressional Budget Office. But in 2007 the proportion had changed – 10% of disposable personal income that could be disposed came from property – second mortgages etc. From the savings it was below 1%.

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