Making sense of the mortgage system collapse

[Filliam H. Muffman]

I knew the housing market was starting to have problems in July 2005. I bought a homebuilders stock in May and went on vacation in July. When I got home, the stock had dropped 15% and all the financial networks were talking about the housing bubble. About six months later I started hearing about 100% loans with balloon payments on over-appraised houses and I knew things were really going to hit the fan.