Where Did The Money Go?
December 5th, 2008 . by Knox BardeenI get this question quite a bit, or at least some variation of “Where did the money go when the housing bubble popped?”. In the car this morning I heard an NPR piece that related quite well to the question at hand. I wish I could embed the audio here, but a link is going to have to suffice.
Where Did The Money In The Housing Market Go?
One of the opinions in this piece is that if the rise and fall of house valuationswere theonly thing going on over the past few years, everything would still be ok. It’s when homeowners started treating their homes as personal banks that the real estate world became dicey.
