The Real Estate Bubble Burst With A Vengence

Much of the economic strength in the US the past few years has been real estate and credit related (mortgage refinancing and credit cards). Interest/mortgage rates fell to rock bottom levels and new types of creative loans/mortgages were added to existing ones. The Fed had an easy money policy (provided a lot of credit/loans to banks) in addition to the rock bottom rates (mortgages and even credit cards if you had good credit and knew what you were doing), which was passed on by lenders to consumers via mortgages and credit cards. Check out the article below and you'll see that the $#it has hit the fan (foreclosures have spiked in a big way):

http://money.cnn.com/2006/09/13/real_estate/foreclosures_spiking/.

....... http://www.JoeFRocks.com/

Credit Fed foreclosures mortgages