[quote=sdrealtor]Mr Mortgage has been wrong early and often. I just checked the NOD rolls and any tsunami is still many months if not a year or more away around here if at all.[/quote]
Mr. Mortgage was never wrong. Just because they **artificially and temporarily** held back the tsunami does not mean that it didn’t exist. It was there all along, but nobody wanted to acknowledge the inevitable losses, so they spent a few trillion and wasted a few good years in order to transfer the risks from the private market to the govt. That is now done, which means that the tsunami is on its way.
I’m willing to bet that things will not look nearly as rosy in December 2012 as they do today.
