That’s my thought and reason for the graphs. We’re currently going up exponentially. Which is easy in the beginning, but we’re above last downturns peaks already and the credit crunch just hit last week.

In essence, looking at the graphs, does anybody want to put some projections on where the NODs and NOTs top out at?

How many NODs at peak is capacity?

How many NOTs?

Granted, NODs to NOT conversion can’t exceed 100%, but how high can it go? If it get’s above 50% where it’s currently very close to, how does the psychology shift for sellers, buyers and more importantly the banks?