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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Broken_Clock who wrote (79542)6/15/2007 11:45:21 AM
From: John VosillaRead Replies (1) of 306849
 
<<"This is a moment of great concern in our economy as to whether subprime is going to pull us all down," said Susan Wachter, a professor of real estate and finance at the University of Pennsylvania's Wharton School of Business>>

Probably a half trillion dollar hit at most. Say 4M homes times 125k hit to the banks on average is an extreme case.. But who takes the real hit besides financial institutions and their investors in these mortgages? Paulson and friends seem intent on keeping the economy humming no matter what, spreading US consumerism and keeping everyone employed and in debt slavery.. A wash for J6P who loses his home where he had no really equity anyway moves into a rental, keeps working and spending like before.. It will work unless long term rates back up too far. The question is what is the magic number?
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