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Mortgage crisis?

NUKE_CLEVELAND
in The Filibuster

Featured Replies

QUOTE(NUKE @ May 31, 2007 -> 07:43 AM)
http://money.cnn.com/2007/05/29/real_estat...sion=2007053012

 

This is what happens when uninformed consumers are too lazy to do their homework and make big decisions with their money.

Unfortunately, the rest of us who ARE responsible for our money will also be feeling the negative effects of this. Case in point - the sudden economic slowing reported today from Q1. This is one I've been harping on for a while now - the strong 2004+ economic recovery was fueled in great part by the housing boom. And since that money was equity - not income, and not renewable - the dropoff will be prolific and damaging to this economy. Too much money has left the table.

 

Not good.
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