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Steven Hansen is a
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"Sherlund concludes, like many others, that the primary reason for the rise in defaults was (and is) home price depreciation."
Dec 05 04:43 am
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All Comments by Steven Hansen »Lending Standards' Red Herring [View article]
and the houses are depreciating because they are over priced to income and rental properties. there is no way for a government to fix this problem short of burning down empty houses.