Ohhh..You Mean it?s Not Just a Subprime Problem??

Go figure. From the way you would read it in the media these days the only problems on main street have to do with people with "those subprime mortgages." It seems that the words mortgage and subprime have become inextricably linked together and, we're told, that's where the problem is. If I had a nickel every time I heard or read the phrase "...from trouble in the subprime mortgage market" or some variation thereof I'd be a wealthy man; but that rote commentary belies the much bigger problem facing our economy. The problem is not with subprime mortgages the problem is with the housing market and the mortgages tied to nearly all of those properties. It's not a subprime mortgage problem, its a credit and collateral problem - and guess what? We're all sitting on that time bomb. It's a b