ALT-A DISASTER LOOMING - KNOW THE FACTS
The ALT-A universe, nearly twice the size of the subprime universe, is headed for disaster. Know the facts. - Best, Mr Mortgage
http://www.youtube.com/watch?v=pmeBSWI9sF8
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April 17, 2008
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Ouch!
What can be done? The problem is just too big and no one is in a position to be able to help. Everyone seems to be under some kind of financial duress, even the governments.
Posted by: Napolean | April 18, 2008 at 10:42 AM
At the end of this video you say:
The housing market cannot withstand Alt A loans doing what the subprime loans did. This is an emergency. It needs to be addressed.
What do you recommend?
Posted by: Slowjoe | April 19, 2008 at 09:05 AM
Nothing...let the wave hit the shore full force and wash out all the liars who couldn't really afford the homes in the first place. Then house prices reset to an affordable level again using conservative lending standards that were in place a decade ago.
Posted by: JWM in SD | April 19, 2008 at 11:16 AM