Pete C. wrote:
dpb wrote:
HotRdd wrote:
Last time I heard the US was in a buyers market. Whether the home owner
"has" to replace it or not does not mean it can't be negotiated in the
selliung price.
...

Like always, that depends on "location, location, location". The major
metro areas are all in the news now with the subprime lending fiasco
(where the rest of us are getting ready to be soaked to subsidize the
fools and greedy who signed up for all these mortgages they couldn't
afford ), but in other areas things are pretty much as they've always
been...

Problem is, it wasn't all "fools and greedy" signing up for mortgages
they couldn't afford per se, a lot of it was predatory lending. The bulk
of the people in trouble now were indeed making their mortgage payments
just fine when the interest rates were reasonable and only had trouble
when the greedy lenders raised those rates through the roof.

Bull****...

The terms were all published and nobody held a gun to their head and
forced them to sign up for zero-percent balloon mortgages.

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