From Independent Australia
"You do not need to look far to see what can happen when an economy with over-priced housing stumbles. In the US, a downturn in the US economy in 2007 led to widespread job losses, then mortgage default, a spate of bank foreclosures, before an eventual capitulation in the price of US housing of between 40 to 50 per cent. Many people in the United States are now stuck paying off houses that are worth far less than their mortgages."
read more
No comments:
Post a Comment