Sunday, August 9, 2009

say goodbye to the cornucopia of cash

And the headline reads:

Half of mortgage borrowers will be 'underwater'
An estimated 25 million borrowers will owe more than their house is worth by 2011


CNN Money article here.

The Deutsche Bank analysts are at it again:
"If our home-price forecast is correct, roughly one in two mortgage borrowers and one in three homeowners will owe more than their home is worth"
That is IF they are right. If finance people have proved one thing in the past few years it is that just about everyone can be simultaneously wrong.

I have a feeling that the actual outcome will be fairly close to their prediction.

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