11-21-2008, 01:19 AM
The one part of the whole subprime equation that I never really understood, is where is Joe going to live after he walks away from the underwater loan/house? Shouldn't we be seeing an upswing in the demand for rentals, and then possibly demand for those foreclosed houses by those that want to become landlords to cash in on the increasing rental market?
Or are we going to see Joe going out and buying a cheap foreclosed house (possibly the one he just lost) at the new reduced prices? This is assuming that he can somehow get a loan.
Or are we going to see Joe going out and buying a cheap foreclosed house (possibly the one he just lost) at the new reduced prices? This is assuming that he can somehow get a loan.