temeculaguy et al., I’d just

[one_muggle]

temeculaguy et al.,

I’d just been reading RealtyTrac and they put the national rate at 1/134
http://www.realtytrac.com/ContentManagement/pressrelease.aspx?ChannelID=9&ItemID=2932&accnt=64847
Unless it is a typo, what is really astounding is the comparison to last year’s national ratio of 1/1117
http://www.realtytrac.com/news/press/pressRelease.asp?PressReleaseID=87

That’s around 800 percent increase, which is in-line with the recent report on LA county’s 799% increase, but the RealtyTrac number is national. I know SoCal is the center of the universe, but the numbers seem a bit suspicious–must be Haliburton.

-one muggle

PS. what makes this CDO mess worse than the stock market blip (so far) is the concentration of the losses and the wicked leverage, two things which made the ’29 bust as bad as it was. I can’t see how this will end well.