Enough with this nonsense already. Ben Stein is right. The sub-prime market is a whopping 1% of the overall outstanding mortgages in the U.S. Banks will sell those forclosed properties at 50 cents on the dollar and even those losses are insured. So what’s the problem? Why is the market so whacky? Big time money managers and big wigs manipulating the market, driving down prices for a big buy-up. I’m in. My 401k, IRA’s and other funds will bounce back by the fall, and I’m steadily buying under-valued companies.
Will you be hurt by the subprime mortgage fallout? – The Boston Globe With headlines proclaiming a crisis in the subprime mortgage market, lots of homeowners are trying to figure out if they should worry. Many experts view the meltdown as a return to sanity in real estate lending. Still, there are lots of ways people could get hurt by the fallout. So here’s a look at current mortgage-market woes, including what’s happening, why people should care, and what they can do about it.