Economics & Racing Beyond Our Means

[Dave Cook]

As housing prices plummet it has to have put several racers in a precarious state such as "upside down" equity.

Those people that are upside down in their home mortgage put themselves there, with the help of unscrupulous lenders and developers, and the idiots that maxed their credit cards, then covered them with "home equity" that NEVER existed.

When you finance 125% of the home value, WHO is at fault for being upside down?

Has anyone seen the teevee commercial where the realtor claims that home values double every 10 years?
WTF over?