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  1. 06-04-2009, 09:44 PM #1
    AirborneSapper7
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    Homeowners Under Water Could Soon Double to 25 Million

    Homeowners Under Water Could Soon Double to 25 Million

    Thursday, June 4, 2009 2:41 PM

    By: Dan Weil

    While conventional wisdom has it that the housing market has bottomed, some experts think otherwise.

    Economist Gary Shilling is one of them. He sees the number of Americans’ homes under water, that is, worth less than the balance of the mortgage, doubling from the current high of 13 million.

    "A couple of months ago, a lot of people had hoped that the housing collapse was about over," he tells MSN Money. "But it was more hope than reality."

    Part of the problem is that subprime borrowers, the launch pad of the national housing collapse, are being joined by supposedly “primeâ€
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  2. 06-04-2009, 10:06 PM #2
    ELE
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    Very sad that people that followed the rules are suffering.

    Greed is the original root of this problem. However, many innocent Americans are now suffering through no fault of their own.
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