For every $100k your house has appreciated your kids are another $100k in debt

For Every $100,000...

By: Ceri Shepherd, Trend Investor
Posted Wednesday, 17 October 2007

For every $100,000 your house has appreciated your son or daughter is now another $100,000 in debt

10-16-2007

Mr Henry Paulson the Treasury Secretary and ex CEO of Goldman Sachs said the following today, and I quote.

"Let me be clear, despite strong economic fundamentals, the housing decline is still unfolding and I view it as the most significant current risk to our economy," Paulson said in a speech delivered at Georgetown University's law school. "The longer housing prices remain stagnant or fall, the greater the penalty to our future economic growth." In his most somber assessment of the crisis to date, Paulson said that the housing correction is "not ending as quickly" as it had appeared it would and that "it now looks like it will continue to adversely impact our economy, our capital markets and many homeowners for some time yet."

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