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While property prices have plummeted since 2005, mortgage values have not (yet) followed suit, reports HousingStory.net. Check out this chart – it’s worth 1000 (debt deflationary) words! Chart source and commentary courtesy of HousingStory.net Also a hat tip to fellow deflationist Carson for sending this beauty along!
The Daily Show With Jon Stewart Mon – Thurs 11p / 10c Home Crisis Investigation www.thedailyshow.com Daily ShowFull Episodes Political Humor Joke of the Day
CNN reports that Treasury Secretary Tim Geithner is having trouble unloading the McMansion he purchased in 2004…close to the top of the housing bubble. Shocking on multiple counts, huh? Geithner purchased the home for $1.601 million…after there were no takers for $1.575 million, he decided to rent the joint for $7,500/month. Without breaking out a […]
Seems like just yesterday that subprime loans were blowing up like the last few seconds of a batch of microwave popcorn. Pop-pop-pop…now you see them now you don’t…keys in the mailbox, see ya later, Mr. Lender. That loan is now your problem. The good news is that the bulk of the subprime loans have reset […]
The Wall St Journal reports that over 20% of US homeowners owe more on their mortgage than their homes are worth. Some metropolitan areas are faring worse – much worse – than others. Las Vegas takes the prize, with an astounding 67.2% of homes that are “upside down” in terms of equity. Maybe the Obama […]
Here’s an educational and entertaining article by the folks at Casey Research detailing the popping of the Spanish real estate bubble. Here in the US, we’re not the only ones who can inflate wild real estate bubbles. There are some upcoming opportunities for potential real estate profits in Spain when the bubble completely pops – […]
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