The housing market begins it's downhill slide
Submitted by jacob on Thu, 08/16/2007 - 5:43amI hate to say "I told you so," but I did...
The economy is now taking a beating as the situation with the housing market worsens. It all started about a month ago with record defaults in the sub-prime lending market. Simply put, people purchased homes they could not afford. I should say it all started with the mortgage boom back in 2003. Rates were at an all time low and housing prices were also low.