To: editor-surveyor
These people still need housing.There is indeed a housing bubble, that has burst. New houses were being built in such a way as to exceed all reasonable market potential. Now there are over 5,000 brand new homes in Minnesota vacant because they can't be sold for what the banks are owed.
447 posted on
10/05/2007 12:45:32 PM PDT by
Paul Ross
(Ronald Reagan-1987:"We are always willing to be trade partners but never trade patsies.")
To: Paul Ross
"
because they can't be sold for what the banks are owed" As I stated, not a housing bubble; a sham ownership crisis created by a 'creative' financing scheme.
448 posted on
10/05/2007 12:48:27 PM PDT by
editor-surveyor
(Turning the general election into a second Democrat primary is not a winning strategy.)
To: Paul Ross
There is indeed a housing bubble, that has burst. New houses were being built in such a way as to exceed all reasonable market potential. Now there are over 5,000 brand new homes in Minnesota vacant because they can't be sold for what the banks are owed.
In LA so many vacant (walked away from) houses that swimming pools were breeding equine encephalitis. So real estate agents are being enlisted to keep track of these houses with stagnant pools
450 posted on
10/05/2007 12:51:53 PM PDT by
dennisw
(France needs a new kind of immigrant — one who is "selected, not endured" - Nicholas Sarkozy)
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