if the bubble is everywhere, and it bursts – there is going to be massive problems….

if people have leveraged their houses to the max, spent all the money on cars/toys/bigscreens/etc – and did option ARMS to “live their dream” – we’re going to have widespread bankruptcies, foreclosures, etc etc.

People will be walking away from houses because they’ll be negative..with no way to sell b/c prices will have gone down so much…