The New York Times Quote of the Day for Tuesday October 21, 2008 attributed to John V Miller, chief investment officer of Nuveen Asset Management, focused on the easing of global credit markets. Miller said that "Fear really appears to have receded considerably." The same day I read in AARP’s The Bulletin of the hundreds of people who are over 50, working and homeless and among the hardest hit by foreclosures.
For the rest of today’s blog, continue at the Boomer Blog
According to AARP’s first ever analysis of mortgage crisis data by age, more than 680,000 homeowners over 50 were in foreclosure, delinquent or lost their homes during the six months ending December, 2007. That represents about 28% of all delinquencies.
While, economics and finance is not my thing, I do know something about this gut fear.
I grew up in an immigrant home with little money and no prospects. My parents were always afraid of not quite making the rent, paying utilities or scrimping on food. My mother made my clothes and my brother and I just had one new pair of shoes each year. Granted others had it worse but I remember all those years and this gut fear of losing everything swoops down on me when I read about my contemporaries living in cars, with friends or in other temporary situations.
It sounds grand that Miller opines that fear is receding.
Just curious about the rest of us …
Eileen Marcus