Sit down with a cup of coffee, and your finger on the "sell" button, and read this excellent "what if" series in Financial Sense. Here's a snippit
Adding to the bearish overall tone is the further collapse of Residential property markets where some area’s now report no bidders, and home values down over 60% from the 2005 all time highs. In many areas, homeowners with no equity have simply walked away their properties handing back the keys and filing personal bankruptcy
So... anyone out there holding a $500,000 mortgage? Sweating a bit?
November 19, 2005
Posted by blogger at 11/19/2005