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 (88470)	9/7/2007 7:07:34 PM
From: kathtoo	Read Replies (1) of 306849

Wanted to add, that I agree with you that what is being corrected is bad paper and bad credit risks. Translation "I'm not financing a half a million dollars for a crappy *%#@-box" The guy on CNBC did say that there were buyers for the paper at severely discounted prices. Aren't they really marking down the price of real estate when they do that. After all, their thought probably runs something like; "if this foreclosure ball keeps rolling down hill, gaining speed and size, the likelihood of defaults is even higher." Grace, You're kind of making my case for me. Kath

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