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Posted by Ignoramus32330 on October 29, 2008, 10:20 pm
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http://www.nytimes.com/2008/10/30/business/economy/30fed.html?pagewanted=2&hp
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Posted by Jim Wilkins on November 2, 2008, 6:57 am
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> On Wed, 29 Oct 2008 21:20:25 -0500, Ignoramus32330
>
> >http://www.nytimes.com/2008/10/30/business/economy/30fed.html?pagewan...
>
> Doesnt that mean 90% are hunky dory?
>
> Gunner
The pendulum swings both ways.
http://en.wikipedia.org/wiki/Redlining
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Posted by Larry Jaques on November 2, 2008, 8:56 am
Please log in for more thread options On Sun, 02 Nov 2008 03:46:45 -0800, the infamous Gunner Asch
>On Wed, 29 Oct 2008 21:20:25 -0500, Ignoramus32330
>
>>http://www.nytimes.com/2008/10/30/business/economy/30fed.html?pagewanted=2&hp
>
>
>Doesnt that mean 90% are hunky dory?
What the headline _doesn't_ say is that it's only a small departure
from normal amounts of delinquencies and foreclosures, a number which
has been rising for several decades. Granted, I wouldn't want to be
part of that 10%...
These bailouts appear to be the screwups' way of getting us to pay for
their lack of foresight and their gambling debts due to their HUYA
ways of thinking. (HUYA = craniorectal inversion)
--snip--
Rate of Home Foreclosures Hits Record
Published: September 7, 2007
WASHINGTON, Sept. 6 (Reuters) — The rate of home loans in foreclosure
rose to a record level in the second quarter of 2007 as more
homeowners in California, Florida and other states could not refinance
their adjustable-rate mortgages, a trade group said on Thursday.
--snip--
Foreclosures increased as the rate of delinquency on subprime loans,
which are offered to borrowers with poor credit, rose to 14.82 percent
in the second quarter, from 13.77 percent at the end of the first
three months of 2007, and from 11.7 percent in the year-ago period.
--snip--
and from 2004:
--snip--
Blue Skies and Green Yards, All Lost to Red Ink
By MICHAEL MOSS and ANDREW JACOBS
Published: April 11, 2004
But the national foreclosure rate has tripled over the last three
decades. Experts say mortgage fraud is on the rise in the United
States and is now evident in as much as 25 percent of the loans that
falter. And what happened in the Poconos is a disturbing glimpse of
how a worthy goal — helping more middle-income Americans own their own
homes — can sometimes produce disastrous results.
--snip--
and
--snip--
Greenspan Shifts View on Deficits
Published: March 16, 2004
Mortgage foreclosure rates, personal bankruptcies and credit card
delinquencies have been rising steadily and are at record levels. Most
of that stress has taken place in lower-income families, which is why
it has not made a big impact on aggregate data about national wealth.
--snip--
--
Everything I did in my life that was worthwhile I caught hell for.
-- Earl Warren
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Posted by Ignoramus22113 on November 2, 2008, 9:10 am
Please log in for more thread options > On Wed, 29 Oct 2008 21:20:25 -0500, Ignoramus32330
>
>>http://www.nytimes.com/2008/10/30/business/economy/30fed.html?pagewanted=2&hp
>
>
> Doesnt that mean 90% are hunky dory?
Yes, that's exactly what it means, 90% are hunky dory and 10% are in
default.
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