Some articles on debt, mortgages:
... a housing market boom and encouraging debt-financed consumption ... homes at lower interest rates, or financing consumer spending by taking out second mortgages secured by the price appreciation ... USA household debt as a percentage of annual disposable personal income was 127% at the end of 2007, versus 77% in 1990 ...
Famous quotes containing the words debt and/or mortgage:
“I have been told, that in some public discourses of mine my reverence for the intellect has made me unjustly cold to the personal relations. But now I almost shrink at the remembrance of such disparaging words. For persons are loves world, and the coldest philosopher cannot recount the debt of the young soul wandering here in nature to the power of love, without being tempted to unsay, as treasonable to nature, aught derogatory to the social instincts.”
—Ralph Waldo Emerson (18031882)
“We are playing with fire when we skip the years of three, four, and five to hurry children into being age six.... Every child has a right to his fifth year of life, his fourth year, his third year. He has a right to live each year with joy and self-fulfillment. No one should ever claim the power to make a child mortgage his today for the sake of tomorrow.”
—James L. Hymes, Jr. (20th century)