- Jan 16, 2002
- Professional Status
- Certified General Appraiser
If you want a look at the magnitude of the problem, read this. Warning: you'll have to wade through some market analysis.
I'd like to spend a minute looking at how it is playing out across America. One consequence, for example, has been a misallocation in real estate and consumer debt that has serious implications going forward. People like to talk about how the consumer has helped to support the economy by taking on more debt. Largely, the refinance boom has been responsible for that.