The government is going to end up buying thousands of houses and turning them into Sec 8 housing which will destroy many neighborhoods.
It's really interesting to me how technology has a way of bringing us out of every depression and recession since the Revolution. On the horizon, I see advances in batteries being what takes us out and ending dependence on fossil fuels. Synthetic oils have been developed to handle lubrication, so powering them is the only thing left. Figuring out how to quickly power a car to make it drive at least 500 miles on one charge is what I believe the next big thing will be. It's not out there yet, and unlikely to be from an American manufacturer, but it's coming. Who gives a shit about MPG; why can't it be infinite MPG? Fossil fuels will be gone in 80-100 years, leaving nothing but nuclear power in its wake, coupled with these advances in propulsion. As always, computing power has reduced cost for R and D to such a marginally low rate that the economies of scale for mass-use technology will continue to grow. Microsoft will still be around, until other technologies are adapted to run on any platform. To the OP, it's not that these guys are broke, more than it is they may not anticipate losing whatever source of income they have, which I'm sure presently they can afford it collectively.
i hope these guys go broke compete with mexicans for jobs, and clean toilets for the rest of their lives
Banks started the foreclosure process on hundreds of homeowners in South Orange County in the third quarter of this year, in a sign cities there could see more actual foreclosures in the months ahead. http://mortgage.freedomblogging.com/2009/11/23/housing-threat-looms-in-south-county/21617/
I wouldnât live there. It is on the Beverly Hills tour routes because it is close to the Playboy mansion. If living like a monkey in a cage at the zoo sounds nice and you have this kind of cash, this is the house for you.