From: Thurston Howell IV 
Newsgroups: misc.invest.stocks misc.consumers.frugal-living misc.invest.real-estate
Subject: Re: Where did the 400 billion USD in subprime mortgage losses go
Date: Wed, 21 Nov 2007 16:40:38 -0600
Bytes: 1849

Real Estate bubble burst...prices too high...loans too high to buy the
properties. When defaults occurred, the properties asking price is
much lower.....hence hugh eliminations of money out of the market.

This is just starting.


On Wed, 21 Nov 2007 11:21:33 +1100, "Rod Speed"
 wrote:

>It had nothing to do with rising interest rates, everything to do with
>loans to fools that should never have got the loans in the first place
>who were absolutely guaranteed to default on those loans.
>
>Nothing to do with the media either.