The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: GraceZ who wrote (86938)	8/24/2007 1:16:30 PM
From: Think4Yourself	Read Replies (1) of 306849

Maybe not so ridiculous that falling home prices cause a recession. We never had a period like we have now. Millions of people with ARM's about to see their monthly mortgage double or triple from the teaser rates they have been enjoying. Millions more people cashed out their equity at the recent low rates and now have zero or negative equity. A couple million more in the former bubble markets that are now seriously upside down. Couple all of this with this year being the first since the Depression that houses have gone down on a national level. There is nothing in the economy to compensate for all the negative change that is going on. Interest rates are rising and loan requirements are tightening. It might not be a recession but it sure isn't going to be pretty.

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