...to financial institutions. This staggering figure is not taking into account all the other economic losses that can be attributed to the Credit Crunch.
If one assumes (I'm recalling from memory, not actual facts) that there are 140 million households in the country, this "loss" comes to over $4,000 per household.
That's a lot of dough.
Now, to make things fun, do the exercise that's bound to happen -- Double and even quadruple that number.
That's how much this will really cost. And, even if you don't own a home and lose it, you're going to pay for it, one way or another.
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