In a story from the Wall Street Journal this morning the level of distressed properties around the world is expected to rise. The even worse news is, demand for said properties is expected to decline as well. What this means is, those inflated stories citing sales increases will cease to over inflate an already dismal economic consensus. When you next hear of sales volumes, a more true picture may be gleaned.
Mortgage Crisis: When “Next Time” Arrives
January 5, 2011 by
The economic crisis has been blamed on everything from Wall Street conniving to sun spots, but in truth the biggest part of the recession is due to overinflated credit expectations. Loan approvals which never should have been given the stamp of approval caused borrowers and banks to fall into a deep crevasse of debt. The solution for budding homeowners is simple, ensure your ability to buy and maintain your home.
