kikipeepers asked
Thousands of homeowners nationwide can no longer finance their spending by tapping into their once inflated, now depreciating home equity. Others can no longer afford their higher monthly payments due to a reset in their adjustable rate mortgages and have been foreclosed. The crisis is taking a toll on consumer spending, particularly in areas that have been hit hardest like Florida, California and Nevada. And it is one of the biggest factors behind what is expected to be the weakest holiday season in five years.
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