Sunday, January 01, 2006

2006-2007: Years of Mortgage Default?

Over the next two years, $2.5 trillion in U.S. mortgages that are based on adjustable rate mortgages will reset to higher interest rates. There is little question that many people who have been using creative financing to speculate in the real estate market are going to have some serious financial difficulties as a result. More at Ben Jones' Housing Bubble blog.

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