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#1
08-26-2007, 08:44 PM
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How will the subprime crisis ultimately affect our country?
Can some of you more familiar with the topic describe what you think will be the lasting impact of this crisis on America and the rest of the world.
In particular, how will this affect the US within the next six months, year, and five years. 
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#2
08-26-2007, 09:05 PM
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Re: How will the subprime crisis ultimately affect our country?
I suppose the number one effect will be to lower housing prices. Fewer people qualifying for mortgages lowers demand and more foreclosures due to increasing interest rates increases supply. Also, housing construction comprises a huge percentage of our economy. My dad works residential construction and he said business is off by a third over the past year.
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#3
08-26-2007, 09:09 PM
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Re: How will the subprime crisis ultimately affect our country?
Iron, glad to see there wasn't a thread about this already [img]/images/graemlins/smile.gif[/img]
You mention that it should lower the value of houses in this country, which it should. But what about all those people who took out equity loans on their mortgage because their house appreciated so much. There could be people who owe more than what their house is worth. I think this is going to have massive repercussions in many job sectors as well.
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#4
08-26-2007, 09:21 PM
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Re: How will the subprime crisis ultimately affect our country?
TSC,
What's up with you getting so passionate about political issues all of a sudden? I think that's great, but I'm just curious.
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#5
08-26-2007, 09:40 PM
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Re: How will the subprime crisis ultimately affect our country?
I use to post here a lot, way back in the day. I was put off by this place because of what I would consider uber partisan [censored].
I love politics and passionate about my beliefs. For some reason I am want to learn more about the recent events as I am deeply concerned about where our country is heading.
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#7
08-26-2007, 11:05 PM
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Re: How will the subprime crisis ultimately affect our country?
[ QUOTE ]
subprime isonly aa symptom of the larger problem, which ultimately will lead to national captivity. [/ QUOTE ] lol...is that like the captivity in which panda bears live in our national zoos? seriously though, can you state more clearly what your'e trying to say? thanks, Barron
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#8
08-27-2007, 03:36 AM
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Re: How will the subprime crisis ultimately affect our country?
[ QUOTE ]
lol...is that like the captivity in which panda bears live in our national zoos? seriously though, can you state more clearly what your'e trying to say? thanks, Barron [/ QUOTE ] read the bible. how do you think the jews got to be slaves in egypt?
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#9
08-27-2007, 08:27 AM
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Re: How will the subprime crisis ultimately affect our country?
[ QUOTE ]
[ QUOTE ] lol...is that like the captivity in which panda bears live in our national zoos? seriously though, can you state more clearly what your'e trying to say? thanks, Barron [/ QUOTE ] read the bible. how do you think the jews got to be slaves in egypt? [/ QUOTE ] ya know, i've read the bible (old testament since i'm a jew) and it was a while ago. i can't recall exactly HOW the jews became slaves in egypt just that at one point they were. could you refresh my memory and then clearly state your point about how this relates to the "larger" problem of which subprime defaults are a "symptom"? thanks, Barron
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#10
08-27-2007, 10:06 AM
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Re: How will the subprime crisis ultimately affect our country?
another thing worthy of note:
the recent growing global markets and high employment rates here at home will provide some cushion from reduced spending resulting from high credit costs and th subprime mortgage meltdown. further, the biggest impact so far has been localized, in relative terms, to financial markets, that, while still impacting the economy, don't have the same impact a bank run/panic or manufacturing crisis would ahve. Barron
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