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From the Washington Post (via Steve Gilliard):
This Modern World by Tom Tomorrow: May 29, 2005 - June 04, 2005 Archives

"More than a third of the mortgages written in the Washington area this year are a risky new kind of loan that lets borrowers pay back only the interest, delaying for years repayment of any loan principal. Economists warn that the new loans are essentially a gamble that home prices will continue to rise at a brisk pace, allowing the borrower to either sell the home at a profit or refinance before the principal payments come due."
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~ link: Friday, June 03, 2005
~ make: del.icio.us
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