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About half of U.S. mortgages seen underwater by 2011
http://news.yahoo.com/s/nm/20090805/bs_nm/us_usa_housing_deutschebank

It says in the article that 90 percent of houses in California will be underwater by 2011. That is a lot of wealth that will be transfered to the banks. I wonder how far houses will drop in Arizona? Arizona is one of the hardest hit areas. I shook the magic eight ball and it told me that there will be more foreclosures in the not to distant future. We are definitely in the eye of the hurricane.
 

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Hey...how much merit do you put into what Gerald Celente (Trends Research) predicts for our economy?....Just curious as I have lsitened to some of what he says and if he's correct, we are pretty much all really phucked!....I'm positive you know who this guy is!
 
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