Dec 8 2008
58% of Modified Mortgages Re-default after 8 Months: Why are Loan Modifications not Working?
The Office of the Comptroller of the Currency released data today showing that over half of modified mortgages are back in default after only 6 months. More startling data is that 36 percent of the borrowers re-defaulted after only 3 months. What this is telling us is that modifications are not helping to buffer the […]
Dec 4 2008
The Housing Bubble Started in 1979: The 3 Stages of the Housing Bubble. From Birth to Bust. Housing Collapse is 30 Years in the Making.
Many would argue that the real estate bubble started in 1997. At this point, residential real estate values in the United States disconnected from any economic fundamentals. We have heard this argument many times. Yet I am going to argue that the current real estate bubble started in 1979.
The real estate bubble started […]
