|
Re: Obama Care
SUBPRIME
example Miami housing market :
Most mortgages that defaulted were those without nay tenants. Notice all the condo's without nay residents that went belly up!! The risk in subprimes came from people gambling, if I pay a fraction of the mortgage for two years the housing prices rise and if I can sell the house before my mortgage resets to a higher amount I make a profit. subrpimes allowed some people to over extend themselves, copycats begat copycats.
|