Monday, December 15, 2008

A Real (Estate) Buying Opportunity!

The sub-prime mortgage debacle and the resulting foreclosures have done their nastiness upon our mutual funds, our economy, and our capitalist souls, but now it's only a matter of months before the real estate markets right themselves, and things start to get better again. Right?

Not according to 60 Minutes. In their latest report, over the next two years, two more types of mortgages called "Alt-As" and "option ARMs" will be causing a second round of foreclosures equal to or worse than the damage and dislocation caused by the collapse of sub-primes.

Their story focuses on the horror that is the Florida real estate market, but its impacts will be felt nationwide...

Patience Alert: The twelve-and-a-half-minute segment begins with a thirty-second ad --


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