Question of the Week
"If people are treating second homes more like stocks and bonds, perhaps speculating that values will rise, are those loans more at risk of default than mortgages on primary homes?" asks Allen Norwood of the Charlotte (NC) Observer. Delinquency rates are not rising at an alarming pace, and the economy is improving, NAR's David Lereah replies. But some buyers are taking huge financial risks;"If interest rates head north on them, they could be in trouble."
Labels: second homes