If you want to be an effective real estate investor one thing you have to make sure you do on a regular basis is pay attention to what’s going on in the news. You really have to be in a cave somewhere if you have no idea what is going on with the United States financial meltdown that is taking place.
It all started with the subprime lending crisis that took place in August of 2007. As a result of record numbers of home loans defaulted, lending institutions that specialized in offering lending products for buyers with less than stellar credit took a financial beating.
As a result, subprime lending institutions went out of business. Thousands of jobs were lost and homes that were foreclosed upon continued to pile up in excess inventory.
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