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: Les H who wrote (173593)	12/26/2008 1:21:55 AM
From: tejek	Read Replies (1) of 306849

Real estate agent: Market took vacation from common sense The irony of this article is that Atlanta's housing prices did not boom like they did in CA, NV or FLA. In fact, its median price is still relatively low for a large metro area. People are between a rock and a hard place. This goes back to this no-money-down scenario. They can’t make the payments. A loan that had a teaser rate of $1,200 a month when it rolls into someone paying $3,300 a month … Q: Wait a minute, that really happened? A: Oh, yes. It happens. Big time. I have seen people in this town who have bought an $85,000 condo, making $11,000. And not be able to make the first payment. This is one of the key factors why housing is in trouble in this country. This fraudulent/unethical dealing didn't start happening en masse until the new century.

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