>Srdjan, people with ARMS had their house payments jump from 600.00/mth to 1600.00/mth. Only then did it become a question of what their money would go for. They thought they would be ok because by the time the payment went up, they thought they could sell their house for more than they owed and make money on it. That was not surprising because it had been done for years and years. Many people made their income buying and selling homes. It was the housing crash that killed that idea and folks were left with house payments they couldn't afford and no way out of them. They were in houses that were too big and too expensive. The price of food did not rice exorbantly nor is it in short supply. We did have some large increases in prices on some items (blamed on the manufacture of ethanol and the cost of transporting those goods due to the price of oil), but nothing that made food too expensive for the people of this country. Food has never been that expensive.


Food & shelter were more like figurative speech. What I meant was cost of living that skyrocketed last 8 years.
due to many factors. And yes, speculations in housing market surely contributed to all this.
I wander what is percentage of those specutive loans comparing to real loans where people actually bought house
to live inn.