No. 248 is one of my favorite cuts. Of course so too will be No. 249.
I doubt news of the last 2 months would manifest itself as that many pre-foreclosures that quickly. I think the first manifestation will be a fairly large drop-off in sales over the next 2 months. This based on the disappearance of the 0% down and 100% financing schemes. NOTs should grow fairly quickly though and keep growing for the next 2-3 years.
