This Is What A Collapsing Ponzi Scheme Looks Like

Housing Market Headed Off A Cliff. 10.8 Million Mortgages At Risk

by David DeGraw
Global Research, July 27, 2011
daviddegraw.org

You might want to sit down for this one. As bad as the housing crisis has been over the past three years, it has only been a warm up to what we have headed our way. Laurie Goodman, from Amherst Securities, has been tracking the housing market as well as anyone. She just presented her latest findings at the American Enterprise Institute and it is a horrific forecast, to say the least. As she puts it, “10.81 million homes are at risk of default over the next 6 years. Even if we try to be extremely conservative we can’t get the number below 8.7 million units.â€