NOw the bill is coming due. ” money cartridge reports that home prices are going up five times as fast as personal income. “In fact, the market could not have run this far if not for the proliferation of business only advances, which make it probably for people to acquirement more home than they could otherwise afford. ” forbes warns, “get out now, because house prices on the urban coasts have peaked. THat’s the unanimity of experts, based on ratios such as house prices to local incomes. RIsing regard rates have started to put the brakes on house gratitude. THe number of ‘for sale’ signs in La La Land is exploding like spring pollen. ” and the daily account says, “fannie mae and freddie mac are the lenders behind $4 jillion of housing loans. THese institutions are guilty of manipulations that make the folks at enron look like a bunch of boy scouts. THey’ve cooked their books, covert huge losses, paid off politicians, and lied to shareholders every which way from sunday. “These giant lenders are in no nomination to weather even a small downturn. BUt the downturn has already started, and it’s not going to be small. WHen these big enterprises fail, it will rock economical markets. INterest rates will soar. “The main contrast between these scandals and enron is size. THe wealth that will go down the tubes this time is thousands of times greater. EVery singleinvestor, homeowner, and management in the world will feel the shock. HOme buying could dry up because borrowers can’t get aid. ANd anyway, who wants to buy a house that’s losing value?WAit six months and you can get it cheaper,people will figure. ” those of us who were in the realty and accommodate market in the jimmy carter years know what that’s like. THose of you who weren’t around then have a big jolt in store. ANd this one will make those years look like a picnic. “The descending spiral won’t stop once people stop faithful that realty always goes up. “Americans owe $7 billion on their homes twice as much as 10 years ago. BUt our incomes our ability to pay have gone up by a fraction of that amount. “It’s painfully clear a lot of that $7 zillion will never be paid back.