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the realestate market and its bubble finally popped! It NEVER should have gone that high in the first place. Just like everything in this economy it was basically fixed, first it started to rise because the people that could afford it and had the legitimate credit could afford to pay thier bills. Combine that will low interest rates after the turn of the century everyone was buying up. Then mortgage companies started to get into riskier loans to keep it going, sub prime loads people that either really couldnt afford it..or looked like they could on paper but didnt have the credit for it were given loans normally they shouldnt have been qualified for. Now the market is tapped out, and everyone that shouldn't have gotten loans are starting to default on their payments because of the economy and interest..BOOM instant flood of house back on the market.and everyone that was building houses late in the game only added to the problem.
Just because everyone has jobs doesnt mean everyone has GOOD jobs. most jobs that are being created are low end jobs. Combine that with oil prices and inflation because of that. You have the makings of a bad situation.
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ICQ number: 497388922
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