Acorn,
Its amazing your as rude as you are clueless.
How would the banks lose money at a mortgagee auction if house prices hadn't fallen yet?
Infact if you look at the data even the number of subprime mortgages grew significantly the years just before the crisis. meaning there was more buying then selling in the subprime area as these loans had a honey moon period of a few years, which means it wasnt pushing prices down.
