Quote:
Originally Posted by clickhappy
It doesnt make sense to me. Unemployment is down, so people are working. Rates are lower than 6% and that is low.
I understand that things would slow down from too much appreciation of the past few years, but I dont get why its this bad. Nothing is selling, no one is buying and prices are dropping like crazy.
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Sub prime moratages, places willing to lend money to people without any sort of credit check or even checking to see if someone actually had a job, idiots speculating in real estate buying vast amounts then having trouble unloading properties before the mortages are due.