Too_Many_Tools wrote in news:d2d21c61-408f-4a16-
:

A word of caution....it can happen to your neighborhood.

It certainly wouldn't be the first time.

Perhaps you're too young to remember the last time - about 25 years ago -
when over-enthusiastic Real Estate salescritters teamed up with Mortgage
Lenders to radically inflate property values and then "qualify" prospective
buyers based upon what they dreamed of making rather than what they
actually made.

This happens on a regular basis.

A sure sign that one of these is approaching is a sudden increase of
"Adjustable Rate" (ie. "Balloon Payment") mortgages. The sure sign that the
bubble is about to burst is a sudden spate of TV ads from mortgage
companies offering to "re-negotiate" and/or "reduce" mortgage payments.

Had you noticed all of the Ditech ads that started running a couple of
years ago?

One interesting thing that I've noticed: the "Blue" states seem to be
bearing the brunt of the problem...