Sub-Prime, High Risk Mortgages: What it means to us. By Geniusofdespair

I was at Bally's working out and someone left a Time Magazine - and God spoke to me with this Graphic above. It explains what Gimleteye has been saying that I really didn't understand: the bigger picture. So for the mortgage impaired (Like Me!), hit on the picture above to make it larger. If I can understand it now, you can too - thank you Time Magazine!

Also read this one:
From the Sub-Prime to the Ridiculous.
A sample:
“Think of the U.S. economy as an unstable dam. The first leaks will be seen in the dam’s most vulnerable spot. But there will be many more leaks to follow. Before long the entire dam will collapse. It would be a fatal mistake for those living downstream to assume a leak is an isolated event, unrelated to the integrity of the dam itself. But that is exactly what those on Wall Street are doing with respect the horrific data emanating from the sub-prime market.”

P.S. In my search of properties down South of Miami, in sprawland, I ran across more than a few purchases in the $300,000 range with only 5% down. That couldn't be good.