Is Australia next?

  1. 11,846 Posts.
    "Vera Johnson from Seattle is barely making do, let alone saving for retirement.
    "I try to remain in the present moment and not live in fear of the future," said Johnson....
    "My property is underwater, the properties around me are underwater, I'm not building equity in my home."
    The 45-year-old almost lost her home to foreclosure in 2010 after the housing-market collapse in the worst recession since World War II. She embodies the financial challenges facing America's Generation X, those born between the mid-1960s and 1980, which lags behind other generations in building assets.
    Good timing is not the age group's forte. Many took out mortgages just before prices plunged, making them the most disadvantaged by the housing crisis
 
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