| Real estate prices have fallen across the
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| | accountant firm, took a loss of about
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| United States, and most rapidly in the
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| | $135 million mostly from losses in their
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| location that were the parts of the real
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| | mortgage subsidiary. Option One
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| estate bubble going up the most rapidly
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| | Mortgage, and its sub-prime unit have
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| in the last five years, such as Florida,
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| | been taking a big hit.
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| Arizona, and the Boston, Mass. area.
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| | Of course, if you just look at this from
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| Still, some areas must be better
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| | the standpoint of the real estate market,
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| opportunities for new buyers. After all
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| | it doesn't seem that big a deal. Instead
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| the question remains, has the bubble gone
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| | of panicking, there will just be real
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| down far enough, or does it still have a
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| | estate brokers who go heavier into the
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| lot more to go. In any case, you have to
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| | foreclosure and distressed home market.
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| live someplace, so you may be likely to
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| | It will seem to be a novelty to them to
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| buy a house or apartment somewhere
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| | sell distressed homes, to try to buy them
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| anyway. If you live in some areas, like
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| | at the lowest prices and resell them
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| much of upstate New York, there may never
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| | quickly at higher prices. Over the last
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| have been much of a real estate bubble to
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| | five years, the foreclosure rate on homes
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| worry about in any case.
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| | was very low, because if a homeowner fell
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| On the other hand, on the Jersey Shore,
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| | behind in their mortgage, they could
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| and in suburban New Jersey's Bergen and
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| | either refinance the home at a higher
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| Passaic County, near New York City, a
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| | price than they paid and get some quick
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| real estate bubble has definitely been
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| | cash out, or sell the home quickly at a
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| built. For example, on the Jersey Shore
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| | higher price than their mortgage, but not
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| (New Jersey), not far from New York
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| | anymore.
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| City, the foreclosure rate on homes is
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| | If you look at reports of the involvement
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| climbing in some fairly ritzy
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| | of the entire U.S. banking system in the
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| neighborhoods. The foreclosure rate has
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| | financial bubble you get a different
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| doubled both there, and in nearby Bergen
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| | story. Since the average bank has about
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| and Passaic counties.
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| | 50 percent of its equity tied up home and
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| Some sub-prime mortgage lenders sound
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| | commercial mortgages. A big hole in this
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| weak and some are actually closing up
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| | equity could really start the financial
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| shop. This is becoming a major financial
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| | system going down.
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| development. H&R Block, the famous tax
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