Thursday, January 7, 2010

KingCast says U.S. mortgage crisis has everybody devalued or upside down.

I told you in this Vikram Pandit post that the U.S. Government refused to sell stock shares because they were upside down.

But let's provide another illustrative example at p. 11:

Say you purchased a home in Provincetown, MA for $625,000 in 2004. That property is today worth only $552,400. It's enough to make anybody mad, but no matter how bunched up your panties are, you must maintain your professionalism with the public at all times.

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