not see how LONG people have been out of work matters, a lot...
many of these job losses are permanent.
In a prior article, CR tells U.S. about "mobility"...
if you can NOT move, bcuz you cannot sell your home...
how do you take a new job, any job...???
The answer is to take the loss..., by foreclosure or short sale...
OR
to rent it out for whatever you can get for it.
Neither is optimum, but it is what now is.
Massive loss in personal worth.
Massive "costs" to find and take a new job.
Massive reductions in income.
THAT is what is in store for U.S., now that W's term of office is over.
Our "term" or sentence in the poor house is not..., not by a long shot.
Sad..., incredibly sad.
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Saturday, April 03, 2010
by CalculatedRisk on 4/03/2010 08:57:00 AM
