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A Note to National Public Radio

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April 02, 2008 – Comments (0)

Enough with the attempts to be gentle, or politically-correct in your coverage of the housing bubble. As the (much more agitated) folks at housingpanic have pointed out many times:

People who "buy" houses with no money down are not homeowners. They are debtors. They are renting the home from the bank and -- in many cases these days -- not even paying principal. Millions are already upside down, having no equity and owing far more than the home is worth on the market.

Again: these people are not homeowners. Home owners, by definition, actually own their homes.

Reuters got this right in recent coverage, and there's no reason NPR can't mend its ways. Don't make me come by your offices, NPR. I know where you are, and I carry a big, heavy dictionary!

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