Housing Market Continues Free Fall
November 20, 2007 Uncategorized
Freddie Mac posts a $2 billion third-quarter loss. Oh. My. God. That’s a lot of foreclosures. So much so that Congress is considering legislation to require banks to allow tenants in rental property up to six months continued lease if their home is foreclosed upon. There’s also new crime up in neighborhoods with a lot of foreclosed houses. People are stealing copper wiring, hardware, appliances and siding off of foreclosed properties.
I know nobody wants to say it, but…still in a war we can’t pay for, near record high oil prices, weak dollar oversees, billions in defaulted home mortgages…nervous anyone?