Re: foreclosures spreading to wealthy la la lands

On Apr 6, 8:59=A0pm, "FrediFizzx" <fredifi...@[EMAIL PROTECTED]
> wrote:
> <forbisga...@[EMAIL PROTECTED]
> wrote in message
>
> news:688ecf62-7d36-4145-9aba-c59a99f00cfe@[EMAIL PROTECTED]
> On Apr 6, 8:03 pm, Blash <bla...@[EMAIL PROTECTED]
> wrote:
>
>
>
>
>
> > FrediFizzx wrote on 4/6/08 10:45 PM:
>
> > > So freakin' what? The US foreclosure rate is barely higher than the
> > > year over year average. It's no big deal. But you would understand
> > > that if you knew anything about economics. Stop pretending that you
> > > do.
>
> > > Fred
>
> > > <Vide...@[EMAIL PROTECTED]
> wrote in message
> >
>news:6b39af5c-88f9-4902-a823-306f35878dd1@[EMAIL PROTECTED]
> > >> foreclosures spreading to wealthy la la lands
>
> > > [snip copy and paste doom and gloomer BS]
>
> > You hit it right on the head with this guy......he must spend his life
> > scanning for bad news articles to "Copy & Paste" and then cross-post
> > them
> > across the net.......
> > His ONLY claim to fame is writing 100+ word Subject lines.........
>
> So what is the year over year average forclosure rate? =A0How far
> off the norm is this year relative to others? =A0Are we within the
> 70th precentile?
> =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D
>
> About 1 percent for the yoy rate. =A0If this year is about 50 percent
> higher, then we are at about 1.5 percent yoy. =A0It is no big deal
> compared to the total amount of mortgages.

As a mere human I don't have access to historical data.  From
http://www.mortgagebankers.org/NewsandMedia/PressCenter/60619.htm

   The percentage of loans in the foreclosure process was 2.04
   percent of all loans outstanding at the end of the fourth
   quarter, an increase of 35 basis points from the third quarter
   of 2007 and 85 basis points from one year ago.

=2E..

   The increase in foreclosure starts was due to increases for
   both prime and subprime loans.  From the previous quarter,
   prime fixed rate loan foreclosure starts remained unchanged
   at 0.22 percent, but prime ARM foreclosure starts increased
   four basis points to 1.06 percent. Subprime fixed foreclosure
   starts increased 14 basis points to 1.52 percent and subprime
   ARM foreclosure starts increased 57 basis points to 5.29 percent.
   FHA foreclosure starts decreased 4 basis points to 0.91 percent
   and VA foreclosure starts remained unchanged at 0.39.

5.29 percent for subprime means that more than one in 20 subprime
loans started foreclosure processing last quarter.  That's in one
quarter.  If that rate held for a year that would be more than
one in five subprimes had started foreclosure during the year.
That's not siginficant?