Wednesday, April 09, 2008

The Teensy Weensy Problem

From California: March worst month yet for housing market.

"We haven't hit the terrified phase yet," said Harris, the Oceanside mortgage broker. "The sellers are going through the seven stages of denial. ... Eventually, they will get to the stage where it's, 'Holy crap, I'm not going to be able to make this mortgage payment anymore.'"

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