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Unconstitutional Patriot
Join Date: Apr 2000
Location: volunteer state
Posts: 5,620
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The State of Housing
The Mortgage Banker's Association released numbers for the third quarter 2009. 14.4% of all mortgages are delinquent by at least 30 days or in some stage of foreclosure. The growth in delinquencies has shifted partially from subprime to Alt-A and prime mortgages. These numbers are staggering, but not ridiculous considering unemployment levels.
I am personally seeing foreclosure levels grow and lenders/servicers becoming more aggressive in pricing. I'd argue the distressed market is seeing demand levels on par or worse than pre-bubble days. In other words, price levels are due to fall before transitioning to flat or rising. Certainly, there will be pockets where housing is relatively immune, but these days, nothing is guaranteed. |
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11-20-2009, 07:09 AM
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Registered
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Do you have any info on distribution of delinquencies and foreclosures between low-end and mid-range and high-end houses?
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1989 3.2 Carrera coupe; 1988 Westy Vanagon, Zetec; 1986 E28 M30; 1994 W124; 2004 S211 What? Uh . . . “he” and “him”? |
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11-20-2009, 07:16 AM
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1989 Porsche 911 Carrera 3.2
