Home Loans

a: Negative equity ~
b: Victorian debtor's prison

What: "Artificially low interest rates and a government tax credit are luring buyers, but both those inducements are scheduled to end. Defaults and distress sales are rising in the middle and upper price ranges. And millions of people have lost so much equity that they are locked into their homes for years, a modern variation of the Victorian debtor's prison that is freezing a large swath of the market."

Writer: David Streitfeld
Where: Reference Link Has Evaporated
Date: Oct 29 2009 7:37 AM

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