Driving in to work this morning, I was noticing how many homes along our street are for sale. The majority of the realtor signs have an additional note: "Price Reduced" or "Motivated Seller". Times are tough for many, and they don't see a light at the end of the financial tunnel. They are not alone.
Today's Housing Bubble Post - Biggest Price Drop in 16 Years
...So the situation: a huge wave of "ARM resets" - steep rises in monthly payments for holders of adjustable mortgages - is only beginning. Then it takes several months before they get into enough trouble to be forced into foreclosure. At the same time, it is hard to get [...]
Tags: Housing Bubble, Adjustable Rate Mortgages, Housing Price Drop
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