3/6/2008
7:09:24 PM 

This is my view, but I thought it worth posting, for the flooring community.

Keeping-up with the Jonses. By the way, my mothers family name is Jones.

As the housing boom took off, a great deal of homeowners IN AND OUT of the subprime, borrowed money against their homes and the rising prices, so as the debacle continues, as the price of homes falls, many that borrowed against their homes--even not in the subprime debacle, will be upside down in their houses now, blaming the gov, the suppossed regulators and realtors and as the prices fall, not only will subprime borrowers pack-up and leave the debt, many with regular mortgages--that borrowed against the rising home prices, will also just walk away, as they will feel just as cheated as the subprime borrowers.

And to think, the gov made all that escallating tax money from the housing skyrocketing,--right along with all the banks, insurers and realtors, so watch for this market to keep falling, despite whatever they do. It won't help and they are throwing good money after bad, making this crises even worse.

Be aware.