check out the foreclosure stats, Notice of Defaults are up 64% this year, but much worse than that is that the total Trustee’s sales this year is up 232% compared to last year. This fits with the $2 trillion mortgage reset everyone has been talking about for 2006-2007.
a lot of high income folks are also waiting the bubble out despite the hit on the tax deduction. I know one physician couple with income over $300,000 combined that’s waiting it out in a leased home.
