Housing and the stock market have both been embroiled in the "Greater Fool Theory" that means, no matter how much you pay for something, someone will come along and pay you more. "Flipping", for fast cash in real estate but now record numbers of people are caught in high risk, no money down adjustable mortgages they can't pay.
The financial fallout from a deteriorating housing and lending market is flooding over into the stock market. Wall Street is bracing this morning for another day of turbulence after Friday's sell-off — the third worst one-day drop this year.
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The financial fallout from a deteriorating housing and lending market is flooding over into the stock market. Wall Street is bracing this morning for another day of turbulence after Friday's sell-off — the third worst one-day drop this year.
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