Monday, February 2, 2009

Tide of mortgages

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After checking out http://mrmortgage.ml-implode.com I noticed there is a long way to go before introductory mortgages finish resetting. This suggests the possibility of further failed credit repayment to the banks.

To me, house prices are due to come down even further in 2009 and 2010 and if the baby boomers who are now retiring decide to cash out of their real estate investments in the next 5 to 10 years, this will further depreciated the value of homes.

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