Outnumbered
Don't tax me bro!
- Joined
- Dec 19, 2007
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I just found this article on Drudge. If this flies homes will go back to more realistic values and the market will drop another 30% in most areas IMHO. The key to this article is the stipulation that the "stated" loans would become a thing of the past. This will absolutely destroy the market because people like myself who are self employed will only be able to qualify for about 1/2 the house we can now. With so many small businesses making up our economy we will take a large hit. Nothing like changing the rules half-way through the game:fsakes When homes start to tumble another 30% people will start to walk in droves. Why hang onto several hundred grand in negative equity? This is going to get crazy:smackhead
http://www.iht.com/articles/2007/12/18/business/subprime.php
http://www.iht.com/articles/2007/12/18/business/subprime.php