Sag Harbor

Financial experts are telling us that we haven’t seen the worst of the mortgage crisis yet. Many people are facing skyrocketing mortgage payments on their adjustable rate mortgages. This can mean a flood of foreclosed houses onto the real estate market, which can in turn send housing prices spiraling downward. This can also mean bad news for new home builders, who may see their businesses go down. Not a very cheery outlook for the new year.