patrick.net

Thanks ZB1,

I'm not sure of incomes per se in my area, because it's been recently changed. Back in 80's, it was mostly working middle class Irish/Italians with large pockets of Hasidic Jews (usually they run small businesses, in addition, from what I've learned from others, they also recieve a large amount of public assistance with the amount of children the avg. family has [about 6-10 kids.]) Now, the area is predominately Russian with the same pocket of Jewish areas, and nearly all the Italians/Irish moved out to Staten Island / Long Island, Upstate New York and New Jersey. I can only assume that because Downtown / Northern Brooklyn heated up [Park Slope/Boerum Hill/Cobble Hill] during this boom [because of the views and promixity to Manhattan,] it carried over to Brooklyn South. But my best guess would be on avg. $68K annually.

Here are some listings of my area from trulia:
http://www.trulia.com/NY/Brooklyn/11235/#for_sale/11235,11230,11229_zip/

So do you "bail out" dead beat homeowners or people who actually saved their earnings ?
I'd say, let them fail and move forward no matter how difficult it maybe.

Sidenote:
I usually buy one particular thing overseas because it is much cheaper than buying it in the states -- confounded by the nearly doubling of price of this product since last month, I went to see the exchange rates and searched for stories about the falling dollar and found this article -- pretty much sums up the aweful shape this country is in.

Here's an excerpt that rings so sadly true [http://www.marketoracle.co.uk/Article8031.html] :
"The fundamentals backing [the US Dollar] today are just as amazing as they were back in 1944, except in a negative sense. The US has managed to outsourced its industry to the point of total dependency on foreign imports for its basic consumer goods, energy, and, to an extent, even food. The US can today claim the exalted status of the most indebted nation in human history, with every level of society (individuals, corporations, local/state/federal governments, etc) owing an unpayably large amount of money. The US capital markets have been tarnish by widespread financial failures, haphazard bailouts, and blatant corporate corruption, the latest being the Madoff's ponzi scheme. There are also growing doubts about how much gold, if any, are left in our reserves. "