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Loan Modification

: Mortgage Lender Implode-o-Meter

Low interest rates lead to overbuilding leads to demolition

By Implode-Explode Heavy Industries

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"The chain of events whereby easy money leads to malinvestment that impoverishes a society is now fully manifest in the United States. You remember Victorville, CA where new homes were being demolished because it cost more to maintain them than to demolish them? (see post here) Well, that same phenomenon is going to be at work all across the USA because we have just witnessed one of the greatest episodes of malinvestment in the history of the world"

Full post as published by Mortgage Lender Implode-o-Meter on June 14, 2009 (boomark / email).

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