Business Week had a very informative cover article in the current edition titled "How Toxic is Your Mortgage?"
It talked about so-called deceptive loans, phantom profits and the coming wave of defaults. I'm still trying to figure out why I should feel sorry for people who got themselves into risky ARM's, interest only loans, etc. but I digress.
At some point, reality will set in. And it's gonna be ugly. And the ugliness will be directly proportional to the irrational price rise and the levels of denials in homeowners that anything is wrong with the market.
It's like 1999-2000 all over again, except this time the pain is on Maple Street, not Wall Street.
2006-09-10
08:16:39
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9 answers
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asked by
The ~Muffin~ Man
6
in
Renting & Real Estate