Subprime tsunami
What gave rise to housing boom may also taketh away
There's growing concern that easy access to credit, rather than fundamentals like housing supply, demographic trends and wage growth, was the primary driver of a dramatic run up in housing prices during the housing boom.
And if lenders gave rise to the housing boom, then lenders -- and those who fund and regulate them -- may also taketh away.
As subprime lenders go belly up or lose access to funding in an avalanche of delinquencies and foreclosures, there are fears that a glut of real estate-owned homes, or REOs, could flood the market, and depress prices in the hardest-hit areas.
In this four-part special report, Inman News goes in-depth to look at what's happening now in the subprime market, what factors led up to the housing boom and how the credit crunch may play out in the marketplace. It's a complicated story with many players, acts and audience members.
- Part 1: "Subprime tsunami threatens to extend housing downturn"
- Part 2: "Subprime mortgage lending boom sets the stage"
- Part 3: "Damn the early payment defaults, full steam ahead"
- Part 4: "If foreclosures are the earthquake, watch out for the credit crunch tsunami"
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