The notion that cheap sub prime homes are in trouble is simply not true... Cheap houses are easy to sell to America's low wage workers...who are a big part of the economy now...
Where the trouble is is with the Mc Mansion Subdivisions...
These overpriced homes were recently purchased during the bubble daze...and they now suffer from an almost total collapse of qualified buyers. Mc Mansion prices are plunging as a result.
The real truth about housing foreclosures is yet to be told...but it's coming. Perhaps this summer.
