US housing market is a 'slow-moving train wreck', '$700B could default,' real estate expert says
Briefly

"It's a slow-moving train wreck," The Bear Traps Report founder Larry McDonald said.
These buildings cannot service the debt," Peebles Corporation founder and CEO Don Peebles added on the panel. "They're worth a fraction of what the original values were when these loans were made.
Read at New York Post
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