A Must See Documentary on the Mortgage Meltdown!

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By AZGuy

Documentary on the U.S. Mortgage Meltdown

This documentary on the U.S. housing bust, by the Australian investigative news show 4 Corners was originally broadcast in Sept. of 2007, and has been right on the money so far! It has interviews with average Joe Americans in Riverside, CA and Cleveland, OH as well as market experts like Robert Shiller, Satyajit Das, Roubini and others.

This video is 45 minutes long, but well worth watching, as it provides a unique perspective and information that you won't see elsewhere. You'll find that this video is intriguing and offers a realistic assessment of the U.S. housing market at the time.....things in the housing and credit markets have markedly deteriorated since the original broadcast in Sept. 2007. In fact, some of the hedge fund losses around the globe that are described at about 24 minutes into the documentary are now DWARFED by the losses being realized at the present time (March 2008)! Watch the video as well as supplemental interviews at the weblink below.

Update June 14, 2008: A recent article from CNN/Money says that houses in hard hit areas like Phoenix and Sacramento etc., could see total price drops of 50%. This prediction by Michael Youngblood, a portfolio analyst with FBR Investment Management, may seem extreme at first glance, but is plausible when one considers the magnitude of the unprecedented housing boom experienced in those areas. Prices need to come back in line with wages in order for the housing market to recover, which may take some time. See the link below for the article.

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