Press Awareness Increases on the Nascent Real Estate Market Collapse and Credit Implosion
In the past few days, I’ve had readers forward me links to several very disturbing articles on the declining real estate market and what appears to be the opening stages of a full blown global credit implosion. First, I read this: Mutually Assured Mayhem: Wall Street is on edge, scrambling to buck up Bear Stearns and avert a domino-effect debacle. Then came this very telling piece: Bear Stearns Meets Possums in Georgia as Foreclosures Increase. The key quote in the article: “No lender wants to own real estate, but at the same time you can’t just unload these properties because …