Yippee!! We're rich.
That's what so many people believed as they looked around their homes and saw nothing but dollar signs. Beverly Hills here we come.
But for a large portion of the market, those big gains turned out to be nothing more than a fantasy. And when the price of their homes turned suddenly south, they woke up in a place they never could have imagined--- not richer, but poorer.
But I guess it was fun while it lasted. Granite countertops, Hummers, trips to Mexico, and your own cement pond out back.
Boy those were the days.
So here is the cold hard truth about the housing bubble and why we will need to spend over $2 trillion to sort it all out.
Afterall, it wasn't just Wall Street that took part in this orgy. Poor old Main Street played their role too—at least for a little while.
This one is must see TV.
- Real Estate's Unholy Trinity
- Housing's Ill-gotten Gains
- Baghdad Bob Comes to Baltimore
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