Of course you haven’t. Because you lost it. And me. And your neighbor. And just about everyone else in the country (fat cats excluded of course).
The US economy, mainly through foreclosures, lost $192.6 billion in 2012. That works out to $1,700 per household. Yikes, quite a chunk of change.
The bottom line is that the knock to the economy was a major factor last year. It rocked families and communities, changed the nature of wealth, made opportunities for some, and redrew the map for others.
But is this good news or bad news? Does this mean we should be spending more efforts to save underwater and distressed properties? Should banks be taking a bigger or smaller cut of the loss?
These are issues that are still being dealt with today. The big wigs in Congress for sure don’t have answers. People like me and you are doing pretty well from the turmoil in fixing the imbalance in the economy.
So what do you think? How should 2013 be any different? Leave your comments below.