Re: foreclosures spreading to wealthy la la lands

On Apr 6, 10:14=A0pm, Mr Bubble <scrub...@[EMAIL PROTECTED]
> wrote:
> > 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.
>
> > Fred
>
> see NYT--foreclosure Map of US
>
> http://www.nytimes.com/imagepages/2008/04/05/business/20080406
> _METRICS.html
>
> from the looks of that data i'd say we're about 5-7% as a national
> average now ( or 700% higher in your terminology).

If it's not free I can't access it.  I suspect those are subprime
ARM numbers rather than total mortgages.  The delinquency rate is
higher but not all delinquent loans are foreclosed.  Fredi doesn't
seem to care about the people just the loans so he aggregates these
loans with the rest and says it's no big deal.  In his way of
thinking if one person had a loan of $10,000,000 and 4 had loans
of $100,000 then even if all four defaulted it would be no big
deal but if the one defaulted it would be the end of the world.