Good clip. What's particularly scary is that: 1) subprime lending is almost back to 2006 levels, and Congress has done nothing. 2) there will be a glut of option ARM resets in the next two years.
In other words, we are not even close to done with all of the foreclosures. And don't even get me started on commercial real estate, which is going to be one of the next shoes to drop.
2 comments:
Good clip. What's particularly scary is that:
1) subprime lending is almost back to 2006 levels, and Congress has done nothing.
2) there will be a glut of option ARM resets in the next two years.
In other words, we are not even close to done with all of the foreclosures. And don't even get me started on commercial real estate, which is going to be one of the next shoes to drop.
/rant
Just found a link that says it all and made me throw up in my mouth more than a little:
Delinquency rate
Our country is fucked for years to come.
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