">You will not find as many ARM loans here as other states. People have savings. Remember, we did not enjoy all of the boom side benefits that are now being realized in the bust side repercussions. Exactly. Instead of directing capital toward speculative credit in unproductive investments (bigger houses), capital was put into productive investments like producing energy and food. The "boom side benefits" involved a lot of conspicuous consumption, but no real wealth was created for average people. Instead, it ultimately means more consumption debt hangover, and fewer jobs offering fewer hours at lower wages. We all would have been better off without these "boom side benefits."" - John McDonald