Re: foreclosures spreading to wealthy la la lands

On Apr 7, 8:18 am, forbisga...@[EMAIL PROTECTED]
 wrote:
> On Apr 6, 10:14 pm, Mr Bubble <scrub...@[EMAIL PROTECTED]
> wrote:
>
>
>
> > > So what is the year over year average forclosure rate?  How far
> > > off the norm is this year relative to others?  Are we within the
> > > 70th precentile?
> > > ========================
>
> > > About 1 percent for the yoy rate.  If this year is about 50 percent
> > > higher, then we are at about 1.5 percent yoy.  It 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.

 don't expect freddi to respond.