Wednesday, November 09, 2005

Non-conforming mortgages come in many flavors

In Philadelphia this week campaigning. Pretty obvious the housing price boom is catching on here.

Possible in Philadephia to get a 100% 1st mortgage loan!! No wonder housing prices in newly gentrying neighborhoods here doubled since last year.

Told speculators are using classic urban "blockbusting" techniques like driving middle class families out by renting properties to very low income tenants.

The Treasury Department's loan regulators are clearly in the business of putting the interests of greedy speculators ahead of citizens.


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