Rise in Foreclosures Making More Headlines

The NC Times has now joined the Union Tribune in running a recent article about the rising rate of defaults and foreclosures. As premium users know, the number of defaults is a stat I watch quite closely. But as they also know, defaults, while rising from their ridiculously low levels of recent years, are still quite low. When a lot of the subprime adjustable loans begin to reset in 2006-2007 we will see some serious growth in defaults and foreclosures. In the meantime, it’s interesting that this stat is getting so much press… it demonstrates that even the mainstream media is fairly concerned.