Statewide foreclosure chart

[coxapple]

Need to remember that most of these are voluntary.

Since the preponderance of sub-prime amongst NODs is so much higher than another cycle and they have little to lose on their credit record, one can start to see that this chart is artificial from a historic comparative behavioural point of view

……….. though in terms of numbers of REO and what the idiot raters should have foreseen it is as it is.

[jpinpb]

Even though it is voluntary – walkaways – that still reflects the inventory that is out there.

[jpinpb]

Even though it is voluntary – walkaways – that still reflects the inventory that is out there.

[jpinpb]

Even though it is voluntary – walkaways – that still reflects the inventory that is out there.

[jpinpb]

Even though it is voluntary – walkaways – that still reflects the inventory that is out there.

[jpinpb]

Even though it is voluntary – walkaways – that still reflects the inventory that is out there.

[peterb]

The fact that they are voluntary makes it all the more dangerous. These are financial decisions based on cost and return analysis. Not forced by circumstances. Or to put it another way, what’s to keep this from snow-balling as the economy continues to falter? Looks like people are voting with their feet.

[peterb]

The fact that they are voluntary makes it all the more dangerous. These are financial decisions based on cost and return analysis. Not forced by circumstances. Or to put it another way, what’s to keep this from snow-balling as the economy continues to falter? Looks like people are voting with their feet.

[peterb]

The fact that they are voluntary makes it all the more dangerous. These are financial decisions based on cost and return analysis. Not forced by circumstances. Or to put it another way, what’s to keep this from snow-balling as the economy continues to falter? Looks like people are voting with their feet.

[peterb]

The fact that they are voluntary makes it all the more dangerous. These are financial decisions based on cost and return analysis. Not forced by circumstances. Or to put it another way, what’s to keep this from snow-balling as the economy continues to falter? Looks like people are voting with their feet.

[peterb]

The fact that they are voluntary makes it all the more dangerous. These are financial decisions based on cost and return analysis. Not forced by circumstances. Or to put it another way, what’s to keep this from snow-balling as the economy continues to falter? Looks like people are voting with their feet.

[cr]

Foreclosures and falling prices are but an effect of the real cause.

Anyone who says we need to stop foreclosures (McBama), and and stop falling prices doesn’t understand the problem: home prices went too high in the first place. That’s the cause, and of course it’s also the effect of lending standards, entitelment, lying, etc, but you get the point.

You can’t stop the consequences once prices outpaced reality. And any attempt to do so will be short-lived and reap greater consequences.

[cr]

Foreclosures and falling prices are but an effect of the real cause.

Anyone who says we need to stop foreclosures (McBama), and and stop falling prices doesn’t understand the problem: home prices went too high in the first place. That’s the cause, and of course it’s also the effect of lending standards, entitelment, lying, etc, but you get the point.

You can’t stop the consequences once prices outpaced reality. And any attempt to do so will be short-lived and reap greater consequences.

[cr]

Foreclosures and falling prices are but an effect of the real cause.

Anyone who says we need to stop foreclosures (McBama), and and stop falling prices doesn’t understand the problem: home prices went too high in the first place. That’s the cause, and of course it’s also the effect of lending standards, entitelment, lying, etc, but you get the point.

You can’t stop the consequences once prices outpaced reality. And any attempt to do so will be short-lived and reap greater consequences.

[cr]

Foreclosures and falling prices are but an effect of the real cause.

Anyone who says we need to stop foreclosures (McBama), and and stop falling prices doesn’t understand the problem: home prices went too high in the first place. That’s the cause, and of course it’s also the effect of lending standards, entitelment, lying, etc, but you get the point.

You can’t stop the consequences once prices outpaced reality. And any attempt to do so will be short-lived and reap greater consequences.

[Author]

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