MSNBC Agrees

Here is a recent article concerning new build homes. I've already written a blog on the topic. For more info, check out this link http://www.msnbc.msn.com/id/21151323/ and scroll down my blog to find 'Don't Buy New Homes.'

Can you imagine buying a home with an adjustable rate mortgage at the peak of the boom with hopes of double digit appreciation only to find yourself $25 - $50,000 upside down only two years later?

These people are left with two difficult choices:
1 - Eat the adjusting payments
2 - Lose the home to foreclosure

Horrible. Horrible. Horrible....