2007-11-12 16:26:16 · 4 answers · asked by mbz 3 in News & Events ➔ Current Events
In the U.S
2007-11-12 16:35:50 · update #1
#1. Because too many people bought houses they couldn't afford- at Variable (teaser) Interest rates. #2. Not really. & #3. It's not Certain yet; but if the current trends continue through the Holidays- Probably. :(
2007-11-12 16:37:55 · answer #1 · answered by Joseph, II 7 · 2⤊ 0⤋
Let me tackle the third part of your question : "Are we going into a recession"?
The answer would be simply, yes.
We've spent trillions on a pointless war, the nation's in a credit/consumer debt/college debt crisis, a slumping job market, oil costs are cutting into an already tight consumer budget (which is in turn cascading into every other aspect of our daily lives), and the list goes on.
America, home of the "free" and the land of rampant and unbridled consumerism.
2007-11-13 04:37:54 · answer #2 · answered by Manji 4 · 1⤊ 0⤋
Too many people brought houses that they simply cannot afford.
2007-11-12 17:21:59 · answer #3 · answered by Anonymous · 0⤊ 0⤋
yes, to both questions.
2007-11-13 13:45:05 · answer #4 · answered by Anonymous · 0⤊ 0⤋