Evidently, homeowner's equity has decreased below 50% for the first time on record--since the Fed started tracking it in 1945. Part of this is falling markets, but I'd suspect another part is that the old ethic of "pay off your debts" is going by the wayside.
And our economy is paying for it in a big way, sad to say.
The next problem for Obamacare - So, you need to see a specialist? Well, maybe you can't. The invaluable Walter Russell Mead explains: The discrepancy between policy and the problems it is...
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