Friday, May 26, 2006

“I am sad. I’m angry. I’m confused.”

As rates rise, home foreclosures surge

More worrying news from the US...

Posted by harold @ 04:26 PM (3049 views)
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4 thoughts on ““I am sad. I’m angry. I’m confused.”

  • Ah, but help is at hand… note that tempting offer of a $40,000 loan for only $277 per month. Bring it on….as a certain President might say.

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  • Where percentage of mortgages are variable rate mortgages in the UK?

    “The reason homeowners have been buying properties that are probably beyond their means, is that they haven’t been looking at what the house costs,”

    heh, it’s all about those monthly payemnts huh. We have heard the bulls spout this loads of times, who cares about the end price and the multiples as long as the monthly payment is just in grasp…affordable I think is the word they use, how short sighted.

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  • “The reason homeowners have been buying properties that are probably beyond their means, is that they haven’t been looking at what the house costs,” says Rick Sharga with RealtyTrac, which maintains a database of foreclosed properties. “They’ve been looking at what the monthly payment was.”

    Idiots – of course Brits would never be so stupid would they ……

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  • Surfgatinho says:

    I expect going bankrupt still has some stigma attached in the US. Over here I think it will become the season’s must have!

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