Borrowers beware

Bill Fleckenstein chronicles the ludicrous lengths homebuyers are going to in order to pay ridiculous prices for houses.... and the stupidity of the banks that make these loans.

1 comment:

NYgirl said...

Banks are stupid to lend the money & home buyers are stupid to fall into the keeping up with the Jonesism. The example he cites of the Japanese bubble is scary, but most likely accurate.

White House considering new tax-deferred accounts to encourage investing

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