American Mud-Hut Dwellers Hit Hard By Housing Crisis
America's news business is finally admitting what people trying to unload a house have known for the past year: The real-estate bubble has popped, and if you own a house today you might as well get comfortable there ... assuming you can keep up with the adjustable-rate mortgage even as you fall into "negative equity."
The good news for wealthier Americans is that even the pitifully poor are being hit hard by this market collapse. Why, even our tribespeople in their mud huts are seeing terrible price declines!
In reaction to the terrible news for all Americans, the Dow shot up to 13,000.