Posted on 08/25/2010 1:15:35 PM PDT by fightinJAG
Maybe they are all crooks. Or maybe they aren’t as all knowing about the future as you apparently were.
2nd mortgage crisis on the way with the defaults on commercial real estate.
“These must be “no recourse” type loans where the lender cannot sue the borrower for the difference between the recovered value of the property and the loan amount.”
Properties are held in Corps, LLC, and the concept of limited liability is used.
Also the concept of “can’t get blood from an onion.”
>>2nd mortgage crisis on the way with the defaults on commercial real estate.<<
This is what a lot of folks have been waiting for as the “big one”.
There was no "All Knowing" involved Just Rudimentary economics.If you have more houses than there are families, prices have to come down. If you have more strip malls than you have businesses for them, then the ones already there are worth less.
Every Austrian school economist out there, saw what I saw.
You had to embrace Keynesianism to not see it.
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