Enjoy the top 1 famous quotes, sayings and quotations by Doreen Pendgracs.
Famous Quotes By Doreen Pendgracs
I live every day to the fullest -- as if it might be last, as you never know when your number's up! — Doreen Pendgracs
Famous Quotes
The combination of these two trends - declining real wages and inflated asset prices - led the American middle class to use debt as a substitute of income. People lacked adequate earnings but felt wealthier. A generation of Americans grew accustomed to borrowing against their homes to finance consumption, and banks were more than happy to be their enablers. In my generation, second mortgages were considered highly risky for homeowners. The financial industry re-branded them as home equity loans, and they became ubiquitous. Third mortgages, even riskier, were marketed as 'home equity lines of credit." Author: Robert Kuttner