by 
ron4540
ANSWERS: 9
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did not,mortgage was paid-off.
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no, but it will because of the stupid people that did get caught.
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Not at all because I am not a home owner nor am I currently in the market for one yet.
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It has kept me out of the housing market temporarily. I want to sell, but the value of my house has too much competition from a glut of new houses in my neighborhood. It was an ill advised building boom fueled by low income loans that were expected to fail that ended up making this a sellers bust.
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It has lowered the value of my home.
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Thankfully we got a fixed rate when we bought the house. and 3 years later, we re-financed it down another 3%. I don't think there is anything that could have convinced me to go with an ARM. Too big of a gamble that, unfortunately, has really crashed down on a lot of people in this crisis.
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It hasn't. The McMansions in the neighborhood closest to us are taking a major hit and that will ultimately bring our property value down. We custom built and were the general contractors on our home, so we had control over the building costs. The house was worth twice what we paid to build it the day it was completed, so the property value would have to reach an unlikely low for the value of our house to take enough of a dive to be worrisome. The market here is comparatively steady. Unfortunately, it is also an area where people frequently live beyond their means. Eh. . .so far, so good for us though.
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I'm sorry but almost everyone is affected. All homeowners, future homeowners, home builders, tax payers paying for the countries losses, Any one that needs to borrow money for anything, home sellers, brokers, realtors, mortgage companies, neighborhoods with vacant houses and or foreclosed houses, the US economy, Investors, the lumber industry, concrete industry, landlords, renters, the banks, the stock market, the FED, the court system in dealing with bankruptcies and foreclosures, title companies, home warranty companies, appraisal companies, banks, home owners and the value of their houses dropping, all the laid off employees that are tied into one of these industries, credit card users, home "flippers", and hedge fund investors. I'm sure that there is probably about 100 more that I didn't mention, but one way or the other, everyone is almost affected.
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Not at all. The higher gas prices have affected me more than anything else, since that has much more of an affect on the economy as a whole.
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