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Strategies & Market Trends : YellowLegalPad

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From: John McCarthy	7/23/2010 11:52:40 PM
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The Housing Bust Did Not Deflate The Mortgage Bubble Jul 22nd, 2010 by IrvineRenter The big mortgage write down party has just begun. Banks have barely scratched the surface on the total dollar value of loans they will need to write off. The housing bubble was really a credit bubble. Lenders extended far too much credit to people who had no ability to repay it. When the housing market crashed, lenders were in no rush to write their loans down to market value. The result is a huge remaining bubble in home mortgages. irvinehousingblog.com CRACKER

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