It's starting...

[Go Aweigh2452]

All those home loans that were too good to be true are now facing default... Big lenders are going into bankruptcy....

http://today.reuters.com/news/articlenews.aspx?type=businessNews&storyid=2007-03-13T113057Z_01_N13421274_RTRUKOC_0_US-NEWCENTURY-INQUIRY.xml&src=rss&rpc=23



http://quote.bloomberg.com/apps/news?pid=20670001&refer=&sid=aY3mu1qdRq94

Its only the top of the iceberg...

[pkrogh]

Gee, shades of the mid '80s!!

Can't imagine how that happened again.

Pete

[dljdad]

HMMMMMM.....Which party held the White House in the 80s? Which one has held it for the past 6 years?

:roll:

[bradvo]

It does not matter which party was in office, their are some dumb ass people out there who just can't manage money. Kept refi'ing the house and living in a dream world that the home would continue to rise at record rates and everything would be ok.
The other got into the low rates and 3 to five years later could not afford the payments and or did not lock in when rates began to climb.

But this will all be good for them house flippers, someone else can come in and bang out a few quick bucks.
One of them dumb ass's works for me, he walked away from his house. I always knew he was a dip ship.