The motel room seemed to shrink as days wore on, and their belongings bulged from its one dresser and closet. Papers. Clothes. Hair accessories. Room 267 had become a cramped way station for a family of four, far from what Daverena White had in mind when she decided to buy a house.
I first read this in the print edition (the fishwrap of choice here in Maryland). This woman, who decided to buy a house with 0% down while running a small daycare business, was portrayed throughout as a victim. (Single mom with 4 kids.) If the housing market has only gone down 1/2 of a percent she would have been underwater.
She paid more for the house ($698,000) than a Canadian real estate developer paid for the Pontiac Silverdome with 120 acres of land ($583,000).
Never mind, Barney Frank and Chris Dodd will see to it that she, and others like her, will be insulated from their own stupidity.
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