There may be different causes for each downturn (I wasn’t here in 1982, I’m not sure what caused that one), but it is interesting to note that we are not yet any worse off foreclosure-wise than in the early 1980s.

Most every hog here in hogville is aware that the complete story on this downturn is not known yet since we are in the midst of it. It could very well be that by the end of 2008 things have gotten worse…we’ll see.

As Tom Petty said, every day we get one more card. The waiting is the hardest part.