This article seeks to explain the reasons why. I would go with the 3 Us. Uncertainty, uncertainty, uncertainty. This article even has a number that gives me pause:
With recent data showing that as much as 55% of those who get foreclosure aid end up defaulting anyway, a signal has been sent that America has gone from being "Land of the Free" to "Bailout Nation."
That means that of the 9 million that might face foreclosure almost 5 million of them might actually be foreclosed on even after we blow $75 billion in order to save them? The sound of 5 million more homes going on the market is pretty scary when there already was 3,157,806 foreclosures in 2008. If 5 million foreclosed homes are added to the rolls then we could have a serious panic on our hands.
No comments:
Post a Comment