AchrisK
Weakling
@BMWG: I think what is happening in the US now with housing is that it is hard for people to get loans, and most people can't just lay out that amount of cash.
anybody here suffering from the US economy?
- Thread starter Cythraul
- Start date
cookiecutter
Proceed to Ultraslamming
The price of homes went sharply down, people defaulted on their mortgages making them worthless. Many financial institutions had lots of money in those mortgages and they suddenly became worthless. Now there is not enough money to loan out to anyone. That's my understanding at least. I'm sure there are more complexities.
