Estimated 3 million US foreclosures in 2010...more than 20% of us mortgages currently under water. I know the theory is that Austin ducked all of this but... markets and wealth are interconnected. People moving to the area have less equity to spend. Banks are weaker and can/will lend less.
- Mr. Bubble
Treasury Delay on Bank Home-Equity Debt Imperils Housing Pickup - Bloomberg.com
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