Boom’s Over, Now Comes The Bust

Guess bad times shadow everyone. I mean until now I only thought about how bad things were for me. A high interest rate on my home equity line of credit was just the beginning of a long list of highs. And none of this is going to end anytime now thanks to the Feds. Since June 2004 it has raised short-term interest rates from 1 percent to 5.25 percent. This was with the intent of achieving a "soft landing" – an economic slowdown that reduces inflation without causing a recession

I have a feeling that things are not going to be so easy. At the end of the day, it’s us homeowners who will take a big beating. My only worry is if people like us will be able to tide over these hard times. Only time will tell.