I don’t understand this part of the article…
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“For example, an article in the New York Times last week noted that “1 in 5 sub-prime loans will end in foreclosure”…
“About 2.2 million borrowers who took out sub-prime loans from 1998 to 2006 are likely to lose their homes”.
In real terms, that translates into roughly 10 million people!”
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I would calculate that as 440,000 people (20% of 2.2 million). Even if it were 2.2 million per year for the 1998 to 2006 period, that would translate to approximately 4 million people (20% of 19.8 million [2.2M X 9 years]).