Relevant:
- Subprime loans defaulting even before resets
- Obama Housing Rescue Threatened by Foreclosures, Unemployment
- Comparing Present Unemployment To Great Depression On A Consistent Basis -- "Great Recession" = "Greater" Depression?
- Record job losses follow mortgage debacle
- Italy Faces 2-Year Recession says IMF; European Recession Neither Mild Nor Short
2008-02-11 — doctorhousingbubble.com
With incomes resetting, we are now hearing less about “freezing rates†or trying to somehow blame the entire problem on resetting loans. What we are now facing is the bursting of a credit and housing bubble and there is no way to keep the game going except to return to things such as no-doc loans and a hungry secondary mortgage market. Do you really see that happening?
Good discussion here. Note the recession data, especially the unemployment chart. Unemployment has definitely troughed (without getting even within half a percentage point of the low in '00) and is heading sharply up. Judging by past recessions, , most unemployment still lies ahead of us.
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.