The doubt remains if the housing slump will contaminate the stock markets in a decisive way that originates an economical recession. The problem is no longer contained on the mortgage lenders but on the depreciated houses' prices that turn impossible for low income families to continue to meet their mortgage payments, put their homes to sell and few people and for few dollars wants to buy it.
Friday, August 24, 2007
Contrywide CEO Mozillo predicts recession
The doubt remains if the housing slump will contaminate the stock markets in a decisive way that originates an economical recession. The problem is no longer contained on the mortgage lenders but on the depreciated houses' prices that turn impossible for low income families to continue to meet their mortgage payments, put their homes to sell and few people and for few dollars wants to buy it.
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