Thursday, December 13, 2007

The new version of the $20K strawberry picker

The $40K Togo worker who bought a $680K home. I can't even begin to comprehend how any sane lender looked at that application and thought, yep, this one is getting approved. And it is examples like this which demonstrate why housing prices will have to fall by another 20, 30, 40 even 50% in some areas.

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