Worst Housing Market in the Country

[Retire Soon]

The United States of Subprime - WSJ.com

A study by the Wall Street Journal of 130 million home loans shows that risky subprime mortgages were made in virtually all parts of the country. Loans were granted to borrowers in poor communities as well as middle-class and wealthy areas. Fort Meyers, Florida may hold the distinction of having, "the worst housing market in the country." Since the worst excesses of the "subprime binge" continued well into 2006, the pain may be felt into 2008 and beyond.

[FinanceDude]

Quote:

Originally Posted by Retire Soon The United States of Subprime - WSJ.com A study by the Wall Street Journal of 130 million home loans shows that risky subprime mortgages were made in virtually all parts of the country. Loans were granted to borrowers in poor communities as well as middle-class and wealthy areas. Fort Meyers, Florida may hold the distinction of having, "the worst housing market in the country." Since the worst excesses of the "subprime binge" continued well into 2006, the pain may be felt into 2008 and beyond.

I've been to Fort Meyers, not what I would consider a "bad" hosuing market.........

[Achiever51]

Hmmmm, maybe it's time to put Fort Meyers, Florida on the radar as a possible retirement place?? Wonder how many of those sub-prime mortgaged homes will end up being foreclosed and auctioned off?

I sure wish I was buying now and not in two years.

[eridanus]

Quote:

Originally Posted by Tiger I sure wish I was buying now and not in two years.

My crystal ball indicates that you'll be in a good place 2 years from now.


"As much as $600 billion of adjustable-rate subprime loans, for example, are due to adjust to higher rates by the end of 2008, which means that more and more borrowers are likely to fall behind."