The New American Homeless
March 19th, 2008Damn non mortgage paying bums.
Archive for the 'Housing Bubble' Category
In case you didn’t believe the bubble was bursting…
June 18th, 2007The Housing bubble is now a fact, as illustrated by the graphs that can be found here, such as the this one below showing the composite home prices in 10 major markets over the past 15 years…
How low it will go is anyones guess.
However I doubt I’ll be shedding any tears over those poor saps […]
So you got Suckered Into an Interest Only Mortgage?
April 24th, 2007
So let me guess…
First, you wanted to get rich quick. The .COM bubble had burned you on the stock market, so you needed something else.
Second, you heard all the stories; your friends, family members, and co-workers, were making tons of cash on real estate, many of them changing careers to become real estate agents or […]
Future Changes III: New Inflation becomes New Deflation
March 20th, 2007By Restless
A Pyramid Block by Block
You buy a house for $300,000. Several years later, it’s appreciated to $400,000.
You take out a $100,000 2nd mortgage.
Your lender bundles it together with other mortgages and sells the bundle to S&W Financial.
Using your bundle for collateral, S&W gets a loan for a million that it invests in a leveraged […]
Bubble News
February 5th, 2007By Restless
Well, the Fed, the US Treasury and the Bush administration–the real axis of evil–would like to forestall the inevitable recession-depression until they carry out their forthcoming attack on Iran. That’s why Bush is sending another carrier group to the Gulf as well as a squadron of F-16s to Turkey. The US is clamping down […]
For Sale
August 28th, 2006By Restless
Last Sunday, I phoned a friend of mine who is now a professor in a small college town in Iowa. She and her husband still own a small house in Cincinnati where there is now double-digit deflation.
Because the house isn’t worth near what they bought it for, they may have to […]
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