Anyone but me paying attention to this ?? things are headed real ugly. All this "creative financing ".. interest only loans, home equity loans ( where the house is worth less than the money that was borrowed) is about to bite us all in the ass bigtime.

I am usually optimistic about these things, but any moron can see that this housing market adjustment is going to really hurt some folks. I think its not even the tip of the iceburg right now. Houses can not go up in value 20 % a year forever, and a bunch of people have borrowed money under the impression that they will.