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Posted by 48PW on Monday, December 15, 2008 at 21:48:55 :
In Reply to: You need to get up to speed... posted by MoparNorm on Monday, December 15, 2008 at 21:18:44 :
How is providing Chrysler, GM or Ford with a bailout going to change that situation.
There has been a $2,000,000,000 loss in home equity in the last year.
It is estimated that 8,000,000, yes that is 8 million, people will lose their homes in the next 3 years because of their relying on "option ARM" mortgages.
People do not have the money to pay for their houses and they certainly don't have the money to be buying cars in the current economic environment.
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