Do you think it would be better for CO homeowners without exotic lending?
While Michigan also is reeling from job losses, it’s interesting that increasing foreclosures are hitting the nation all at once.
It’s going to get really bad next year. This year is just the warmup for the big stuff next year. We have 3x as many ARMs resetting next year, and whenever I read the figures on the ARM resets, I have never read that the problem was confined to CA and FL. It always says, “Nationwide, $1 trillion in ARMs is resetting in 2007”. Emphasis on nationwide.
How are retailers faring in CO? Have you seen any impact on the local economy?
