This Is What A Collapsing Ponzi Scheme Looks Like: Housing Market Headed Off A Cliff As A Shocking 10.8 Million Mortgages At Risk Of Default

Thursday, July 28, 2011

This Is What A Collapsing Ponzi Scheme Looks Like: Housing Market Headed Off A Cliff As A Shocking 10.8 Million Mortgages At Risk Of Default

You might want to sit down for this one. As bad as the housing crisis has been over the past three years, it has only been a warm up to what we have headed our way. Laurie Goodman, from Amherst Securities, has been tracking the housing market as well as anyone. She just presented her latest findings at the American Enterprise Institute and it is a horrific forecast, to say the least. As she puts it, “10.81 million homes are at risk of default over the next 6 years. Even if we try to be extremely conservative we can’t get the number below 8.7 million units.”
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