NEW YORK (CNNMoney) -- As the foreclosure crisis continues to wreak havoc on the housing market, a source of national pride has taken a sour turn. Home ownership is on the decline and, according to a recent Morgan Stanley report, the United States is fast becoming a nation of renters.
Last Friday, the Census Bureau reported that the percentage of people who owned a home had dropped to 65.9% during the second quarter -- its lowest level since the first quarter of 1998 and a far cry from the high of 69.2% reached in late 2004.
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Homeownership at the lowest level in 40+ years. Unemployment at 9+%. 14 trillion dollars in debt. Our credit rating downgraded for the first time in our history. Space shuttle scuttled and now we must ASK the Russians if we can go in THEIR ships. The return on Treasuries and CD
's is barely above zero percent. Our country is openly ridiculed and called a "parasite" upon the world. John Kennedy would be in shock and disbelief if someone told him that THIS would be the state of our nation. And, the REAL shocker?? 49% of Americans APPROVE of the job the President is doing!!
8:57, this is because this huge segment of the population are educated by the government schools; therefore don't have a clue about our history. many of them are living off the dole and expect a handout at every step of the way. they aren't true patriots and never intend to be productive citizens. yes; this nation is in a horrible mess.
PRAY, PRAY, PRAY.....
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