I would say that most people who can afford to pay their housing cost will pay, but there is always a group of bogus borrowers who will take advantage of easy credit to either live free . No money down and no equity in the house - walking away is easy.
Not really sure what your point is about Keynes. Maybe you could explain. On Thu, Sep 25, 2008 at 2:24 PM, Dana <[EMAIL PROTECTED]> wrote: > bottom line though, they cannot afford the payments? If people can > afford to pay their housing costs usually they will, yes? If you agree > with that statement, then ask yourself what Keynes would say. > > On Thu, Sep 25, 2008 at 1:33 PM, Maureen <[EMAIL PROTECTED]> wrote: >> The problem in the mortgage industry is that people applied for loans >> with an adjustable rate interest that had low initial rates, but now >> the higher rate and higher payments are kicking in and they can't >> afford the payments. Credit has tightened and they cannot no longer >> qualify for refinancing. Add high gas and food prices to that and you >> have a recipe for disaster. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:270916 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
