"Let me also say that this is not an issue of the poor.

This current crisis is principally a crisis of the middle class, not the poor.  Individuals who asked “what’s the payment,” and not “what’s the interest rate.”  Individuals who purchased a home, like many of us purchase automobiles, and you shouldn’t purchase an automobile that way. 

If you purchase an iPod, and place it on a credit card and make minimum payments over time, it will cost you $4,000.00. Now, apply this analogy to a six-figure home purchase and you have an economic tsunami on your hands."

John Hope Bryant

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