Housing crisis

[unhappycamper]

At risk
Housing market troubles reach military families.


Housing crisis
By Karen Jowers - Staff writer
Posted : Saturday Jan 26, 2008 17:16:24 EST

Even if they don’t have risky or costly home loans themselves, many military homeowners are feeling the pinch of the nation’s recent housing crisis — or soon will be.

Housing values and prices are plummeting in many regions of the country (bad for sellers), and lenders are tightening credit standards (bad for many buyers).

As a result, military families with permanent change-of-station orders are squeezed on both fronts.

And for those who got caught up in the hyped-up housing boom and overextended themselves with risky mortgages or cashed in on now-vanished home equity, the market is even scarier.

Three factors are driving the crisis, with the first two essentially creating the third:


Rest of article at: http://www.armytimes.com/news/2008/01/military_foreclose_080126w/