Comments on: Mortgage Late Payments, Defaults at All Time Highs

By: RJN

RJN — Thu, 15 Mar 2007 19:38:57 +0000

Steve:

Honest Injun, I understand the difference. I am remarking about the possibility, or not, of further, and more damaging, losses in the ability of the "aggregate American" to make his mortgage payments.

By: Steve Verdon

Steve Verdon — Thu, 15 Mar 2007 16:32:32 +0000

I think you guys need to learn the difference of price changes due to changes in supply and demand, and inflation a monetary phenomenon.

By: RJN

RJN — Thu, 15 Mar 2007 16:28:00 +0000

RP:

Very true.

By: RP

RP — Thu, 15 Mar 2007 06:30:13 +0000

Uh....inflation isn't going to help if wages don't spiral up, and the new global labor supply is making sure that doesn't happen.

By: RJN

RJN — Wed, 14 Mar 2007 20:47:26 +0000

The houses do exist; we the people may not lose too much after all. Won't the main losers be the people who took out the risky mortgages, and the people who bought the bundled mortgages?

I am thinking inflation - we have to reduce our debt to the world - will diminish the damage to the general public.

By: The Glittering Eye » Blog Archive » Market lower

The Glittering Eye » Blog Archive » Market lower — Wed, 14 Mar 2007 18:22:23 +0000

[...] David Altig says that the problem is just in the subprime loans, it’s in the adjustable rate mortages (lots of graphs and charts). Calculated Risk, who’s been on top of the housing bubble story for some time now, has a graphic of how defaults in subprime loans affect the entire housing market. Steve Verdon links to a couple of articles and notes the problems that a decline in the housing market could pose to the entire economy. Looks like a good time for me to make the observation I’ve been making for some time now. State, county, and city governments are highly dependent on real estate taxes and sales taxes for revenue. Some of them have become accustomed to increases in assessed valuation as a politically cheap way of increasing taxes, enabling them to increase spending. Money-back refinancing and home equity loans have tended to bolseter retail sales. [...]

By: DC Loser

DC Loser — Wed, 14 Mar 2007 17:40:29 +0000

Is this really a surprise? People who've been following the crazy real estate market knew this was bound to happen given the inflated prices and easy credit. Up until now, I kept hearing the NAR mantra that the housing market was still strong and keeping the economy afloat. Guess that's not going to be used anymore.

By: Tlaloc

Tlaloc — Wed, 14 Mar 2007 17:35:50 +0000

Dot-com all over again. Stupid greedy people make asinine decisions, encouraged by idiot economists who claim that bubbles and ceilings are a thing of the past, and it ends up screwing us all.

By: » OTB News

» OTB News — Wed, 31 Dec 1969 18:00:00 +0000

Archives December 2006 August 2006 June 2006 May 2006 April 2006 March 2006 February 2006 [IMG Outside The Beltway | OTB] Beltway Traffic Jam Mortgage Late Payments, Defaults at All Time Highs U.S. Defense Spending Below Average? Mackey Wins 2007 Iditarod! Blue Dog Saboteurs Why Haven’t We Written About . . . ‘No Child’ Left Behind Unreasonable Beltway Traffic Jam Gonzales: Prosecutors Firings Mishandled