The skinny on the housing crisis
Posted on 15. Jun, 2010 by Joseph Hollak in Financing, Home Buyers
From 2000 – 2006, according to The Skinny on the Housing Crisis by attorney and business writer Jim Randel:
“Home prices across the United States increased by 15 percent per year and 3 million new households became new homeowners. During that same period, mortgage debt rose from $6 trillion in 2000 to $13 trillion in 2006—premised on the belief that housing values would always go up.”