Most of that info is trailing. One part however that is somewhat indicative of things to come is page 19:
"2/28 ARMs Dominated Subprime Home-Purchase Loan Originations in 2006"
That means the majority of those have not even reset yet, as haven't many of the Alt-A and Prime loans. Things have a long way to go before they can even start turning around.
Unfortunately, they haven't figured out how dependent we were as a nation on real estate that only goes up.
Thank you for the doc. Much more informative than expected. Page 7 is especially interesting.
Most of that info is trailing. One part however that is somewhat indicative of things to come is page 19:
"2/28 ARMs Dominated Subprime Home-Purchase Loan Originations in 2006"
That means the majority of those have not even reset yet, as haven't many of the Alt-A and Prime loans. Things have a long way to go before they can even start turning around.
Great link, lots of good info on this PDF. And these guys are generally positive.
I'm surprised, it was a good doc!
It is an article written by economists for Indymac. Not the "doom and gloomers". It's almost as if someone around there is reading Piggington.......