Sunday, October 7, 2007

Interesting


If this chart is accurate, we are in for an interesting Spring in 2008.

6 comments:

Count Nadeau said...

...And cue the massive tax-payer-and-inflation-funded bailout courtesy of Hillary '08.

Anonymous said...

Correction: interesting SUMMER 2009

FB stops makin payments in spring 08

It takes 11-12 months to foreclose in CA

Then the bank sits on the REO for 1 to 3 months before it hits the MLS.

THEN you see the home on the mls which has not had a 'payment made on it' in about 15+ months and counting.

this will last years. effing awsome huh.

great blog.

bradinsb said...

I agree

Anonymous said...

Well, please notice the chart starts in Jan '07. It's hardly as if there haven't been loans that have already re-set?

The chart I've seen the most oft quoted is the Credit Suisse Re-Set chart and I believe it goes BACK to 2005. So there's a whole lot of lit sticks of dynamite being passed around.

The inventory we see stacking up already will pale when compared to the wave after wave surely coming. The problem for many of these people is that even if rates remain low they are under water and have now equity as prices continue to plummet. Since there's no more "100% Financing" they won't be able to re-fi their way out of this one!

DinOR

Anonymous said...

Uh... that should read, "and have NO equity"

DinOR

Anonymous said...

YIKES!!!!!!!

Lots of homeless poor people hitting the streets in a bit. LOL!