Recent turmoil in the financial market -- specifically the sub-prime mortgage mess -- has focused attention on the impact that a bursting U.S. housing bubble could have on the economy. Dean Baker, co-director of the Washington-based think tank Center for Economic and Policy Research, explained in an interview how the market chaos may affect homeowners and what possible solutions are available. Here is an edited transcript of his comments:
Sunday, February 17, 2013
For borrowers in a bad spot, situation may only get worse
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