George Bush likes to boast about the high rates of homeownership. But today in America, millions of homeowners are at risk of seeing their prized possession taken right out from under them.
Over the last decade, we have been witnessing some of the most brazen acts of mortgage entrapment ever to hit the American housing market.
Subprime lenders have coaxed eager consumers to buy or refinance their homes so often with no money down, and at seemingly low interest rates. But now millions of homeowners are paying way more than they can afford.
Previously in this blog:
First Cracks, Then Crumble, Then Crash
The Answer Is Yes
When An Economy Crashes, Baby, There Are No Airbags!
And Then Google’s Stock Finally Thank You Jesus Crashes And Takes The Entire Global Economy Down The Toilet, Thank You Science!
The Road to Great Depression 2.0