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All the headlines over the debt burdens that consumers are dragging around made me think of this old skit from Saturday Night Live featuring Steve Martin. In it, the strange man who walks into their kitchen offers the “secret” to getting their debts under control. Enjoy. And if you’d like a copy of this book, hey, mail me $19.95, or “three easy payments of $9.95.” And yeah, I accept MasterCard and VISA. And if you’re over your credit limits, feel free to tap your home-equity line of credit.
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.