[quote=HLS] I totally disagree that the article is “ill-timed”
Do you base your comment one the premise that LPS is 100% correct therefore the article is flawed/incorrect ?
I know for a fact that the way information is reported gets twisted and skewed to meet someone’s agenda.
a) The foreclosure numbers/filings reports are completely misleading and inaccurate.
b) Using the median home price as an important statistic is foolish.
c) Believing the govt released numbers for many things (such as unemployment & inflation) is simply idiotic; yet these last 3 things are relied upon heavily as though they are totally accurate and came from an ethical source without a hidden agenda.
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I don’t think LPS numbers are 100% correct, but they’re consistent with the CORE logic numbers, and I don’t think either has an agenda other than getting their numbers as accurate as possible. Neither of them is precise, but the value of their reports is in identifying trends. And the trend in the number of delinquent loans is down.
Can you explain why or how either of those reports are misleading or inaccurate? Keep in mind, I’m looking at trends, not precise numbers.
Your comment about using median home prices is a complete non-sequitur. I haven’t, and neither do either of those reports.
Neither have I used government numbers for unemployment or inflation, but similarly, their value doesn’t lay in individual numbers, but in trends. And the unemployment rate is flat to falling, and inflation outside of housing is virtually non-existent.
The article implies we are at near crisis levels. Something horrible could happen if all of a sudden all these delinquent loans hit the market as foreclosures. But the risks of that happening have clearly fallen over the last 4 years, and most all indicators of future economic conditions would lead to a conclusion of future diminishing risks. The economy is always at risk created by black swan events. But excepting events like that, what substantiation exists for calling out this particular potential crisis now? Is there an agenda in doing so?
