When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Wednesday, February 19, 2014

Mortgage Delinquencies, the Disaster Still to Come

Think housing has "come back?" Better think again --

"properties remain delinquent for years throughout the entire NYC metro without being foreclosed. This table shows with hard numbers that this is actually the case" (source infra)

The Coming Mortgage Delinquency Disaster: "  . . . this notion of a housing recovery is simply wishful thinking. My charts, graphs, tables and other solid data have been greeted with skepticism. . . . the table completely confirms what the first table shows about the NYC metro. It also shows that the 21 million modifications and other "solutions" have not solved anything. They have simply kicked the can down the road. If you read the latest call report filed with the FDIC by "too big to fail" banks, you will see that the first lien portfolio owned by two of them has a delinquency rate of more than 17%. No recovery in their portfolios! ... I am confident that the hard data which I continue to publish reveals that major housing markets are still headed for a crash. . ." - Keith Jurow (real estate analyst and former author of Minyanville's Housing Market Report. His new subscription real estate report – Capital Preservation Real Estate Report) 


The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects