why are prices dropping: Break it down: Why is the Real Estate Market Bad?
- 10/12/07 05:38 AM
Gordon Corsie wrote a really good piece this morning breaking down "what happened" to the Real Estate Market. To the seasoned professional, this analysis is not new. But I think it's really important to remind everyone as to the "how's" and "why's" of our Market today. It's like this, when you know where the "monster" is, it's a lot less scary. QUESTION: Why aren't homes selling like they did before? (from Gordon's post) BECAUSE: Lenders loaned too much money to too many buyers who should never have been qualified to such a high level of purchase price.Those buyers who bought with zero down loans and whose "OPTION ARMS" … (2 comments)
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