Ghost of Igloi wrote:
I told you an home ownership opportunity was coming. Unfortunately people did the same stupid crap twelve years later. Most folks learn nothing!
"a November FHA report found that 27% of borrowers last year spent more than half their incomes on debt, a level it describes as “unprecedented.” The share of FHA loans souring in their first six months has doubled over the last three years to almost 1%."
I'm calling this more of a consumer debt crisis than anything else. I can actually forgive a lot of leveraged businesses because you need debt to compete. For the consumer though, where's that poster that pretended to be Dave Ramsay???