Homeowner Equity Falls Below 50% For The Third Straight Quarter -- Further Evidence Of The Impending Recession

George W. Bush says that the economy is fine and that there is no recession in sight for the American people. Of course, by now most Americans know that Bush is lying.

Moreover, what he really means is that there's no sign of an economic recession in sight for himself, his extraordinarily wealthy family, or their Illuminati criminal associates; those who control most of this planet's wealth. As for the rest of the American people, a recession looms large within the near future, with the latest real estate indices showing some of the most depressing figures in more than six decades.

Even the privately held counterfeiter known as the Federal Reserve Bank is admitting that a recession is emerging within the United States.

Homeowner Equity Is Lowest Since 1945


Mar 6, 12:50 PM (ET)

By J.W. ELPHINSTONE


NEW YORK (AP) - Americans' percentage of equity in their homes fell below 50 percent for the first time on record since 1945, the Federal Reserve said Thursday.

Homeowners' portion of equity slipped to downwardly revised 49.6 percent in the second quarter of 2007, the central bank reported in its quarterly U.S. Flow of Funds Accounts, and declined further to 47.9 percent in the fourth quarter - the third straight quarter it was under 50 percent.

That marks the first time homeowners' debt on their houses exceeds their equity since the Fed started tracking the data in 1945.


http://apnews.myway.com//article/20080306/D8V82V580.html