Mortgage Crisis Wrecks Housing in All But Eight States
October 9, 2007 by admin
The housing market rocketed and then came crashing down in the majority of the U.S. due to the mortgage crisis, which first started in subprime loans and quickly spread into the conventional lending market, leaving just eight states on the Housing Predictor appreciation list.
The fallout from the national mortgage melt down is yet to be determined. It may send the U.S. economy to its worst level since the Great Depression with millions of Americans losing their homes due to unethical and illegal lending practices. The catastrophic financial frauds at Enron and World Com may have been small episodes compared to...