User:Doyhal

Financial Bubble Bursts over Housing Loans The housing bubble first started to rear its ugly head in March of 2007 while I and others were in the housing boon. Starting in the early 2000’s, the Loans were easy to get and cheap. I’ve heard someone refer to that period as flipping McMansions. Everyone was buying houses to flip and make a profit. It was quick and easy cash. My folly was buying the houses with borrowed money. umm, I was on top, the money was fast and easy, there was no problem in finding someone to buy a house and even while paying interest on the loans for 6,10 or a dozen houses at one time the profits were good. It was one big bank’s announcement in March 2007 that it was experiencing higher-than normal losses on its mortgage holdings that started a stampede of investors selling their holdings and the rush to get rid of as much property as possible was on.