Rantings and tirades of a frustrated economist.
Heck, that's nothing compared to the coming CRE crash.
There is one thing I can't understand about all of these resets.Aren't all of these resets a transition from a fixed teaser rate to an adjustable rate? Isn't that rate tied to LIBOR? Such as 2% points over LIBOR?Isn't LIBOR currently at about 2%? So this means that all of these mortgage holders will have to make payments based on 4% rates? Unless the holder of the mortgage has to greatly increase principle payments, this doesn't seem like such a big deal.James
Great chart. It has a nice look forward at the magnitude of the mess that has to be cleaned up and the impotence of Oiwantmymama's foreclosure plan.Ditto CRE. The numbers of see-through buildings, for lease signs, and closing sales are rising fast.
I would like to submit the following chart for the contest:History of Home ValuesI couldn't find an email address, so I decided to post it as a comment.
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