Sunday, May 18, 2008
Hot US property market!
Guardian: Fire sale
It may be an extreme way to kiss goodbye to a dream home – but a growing number of Americans are torching their properties when they find themselves overwhelmed by sub-prime mortgages.
Posted by quiet guy @ 02:20 AM (345 views) Add Comment
2 Comments
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1. paul said...
Well, if banks can change the rules to bail themselves out, homeowners are only seeking the same getout treatment. You can't deplore these homeowners' actions without deploring the businesses that first got them into the mess.
2. japanese uncle said...
Subprimers in the UK are more motivated to do this than their US counterparts many of whom at least enjoy the benefit of non-recourse loans. UK banks are even meaner and more ruthless.