“YES ! Expect this to happen here by 08, after the ’07’ ARM majority reset.”
I have no sympathy for people who over leveraged themselves. No one forced them to buy; it was only their own greed and neglect to adequately research & plan that put them where they are. While I haven’t tried applying my very rusty spanish to the text of the article, I assume that these are young adults who are effectively priced out of the market thanks to “irrational exuberance”. For these I have much empathy.
