by
RENEGADEGAS
Feb 06, 2010
You are so right on this! Its an age old saying, history repeats itself. Sometimes this is good while other times it can be horrific. Sadly we are headed into one of those horrific repeats in history if people dont start waking up. I noticed a story that has been squelched the other day. They lightly hit on it, but having friends in the lending and real estate markets I know this to be true. The housing market crashed obviously in the last few years, but whats coming will be much much worse. All of the five year balloon notes are coming due this year from the bad loans that got us into this mess in the first place.. When banks refuse to or cannot refinance these people, the market bottom is going to fall out. This time it could most likely throw us into a second depression. Why arent the major news sources talking about this. My friends knew this was coming two years ago, yet the current administration, major media sources, and financial leaders in the government are being s