From The Stock Masters
For the most part Americans who had every intention of paying off their mortgages and living in their houses now just can’t swing it.
The vicious cycle of falling property values and falling employment levels, falling population – it is making for a very painful mix. The Midwest has endured more of its share of economic distress and home prices haven’t been robust, which by extension makes those subprime mortgages extremely vulnerable. The hardship is just getting started and middle America is going to get hit hard. If Princess Leia was living in Detroit you can bet her answering machine would be saying "Help me, Obi-Wan Kenobi; you’re my only hope." Read story at Yahoo News…
