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megatron · 01-23-2009, 03:29 PM

I haven't read the entire thread, but have any of you seen this report on 60 Minutes (aired Dec 14, 2008) about where the mortgage meltdown bottom is?

It's quite interesting because they talk about two other loan types: ALT-As and Option-ARMs that haven't even started to come up for renewal yet (they will later in 2009 and in 2010). The main guy in the story (can't remember his name) says that while the USA is 1/2 way (or 2/3 of the way) through the sub prime mess, the above two types of mortgages will cause more pain for a couple more years.

I wonder how this will effect Canada's/Alberta's/Calgary's economy further (or if it will)? and how long until we see the trending upward?

Link:
http://www.cbsnews.com/video/watch/?id=4668112n

01-23-2009, 03:29 PM	#562
megatron First Line Centre Join Date: Mar 2008 Location: Sydney, Australia Exp:	I haven't read the entire thread, but have any of you seen this report on 60 Minutes (aired Dec 14, 2008) about where the mortgage meltdown bottom is? It's quite interesting because they talk about two other loan types: ALT-As and Option-ARMs that haven't even started to come up for renewal yet (they will later in 2009 and in 2010). The main guy in the story (can't remember his name) says that while the USA is 1/2 way (or 2/3 of the way) through the sub prime mess, the above two types of mortgages will cause more pain for a couple more years. I wonder how this will effect Canada's/Alberta's/Calgary's economy further (or if it will)? and how long until we see the trending upward? Link: http://www.cbsnews.com/video/watch/?id=4668112n