World-News

Dean Baker writes: "While the collapse of the housing bubble was both predictable and inevitable, it is not pretty. Tens of millions of people will be hurt as they see much of the equity in their homes - money that most had counted on to support their retirement - disappear. Millions more will be forced out of their homes as they find that they are unable to meet the payments on adjustable rate mortgages that reset at higher rates. People who had worked hard and saved in order to become homeowners will see their dream disappear."

http://www.truthout.org/docs_2006/030607J.shtml



Safe Ground in a Housing Market Meltdown?

Dean Baker writes: "As reports of problems in the mortgage market build, the number of people who view a collapse of the housing market as a serious possibility is growing rapidly. At the moment, the surge in defaults is taking place primarily in the sub-prime market, which is composed of borrowers who have poor credit histories. However, the problems are likely to affect the broader housing market and the economy as a whole before the end of the year."

http://www.truthout.org/docs_2006/031407J.shtml



http://freepage.twoday.net/search?q=housing+bubble
http://freepage.twoday.net/search?q=housing+meltdown
http://freepage.twoday.net/search?q=mortgage+market
http://freepage.twoday.net/search?q=Dean+Baker