I live in the USA and I am concerned about the future. I created this blog to share my thoughts on the economy and anything else that might catch my attention.
Last time I checked, the difference between mortgage debt and the value of the property secured by mortgages was about $6 trillion. Those are real losses that someone is going to have to take: either a bank, a homeowner, or the government through FNMA/FHMC/FHA/VHA.
It's going to take me years to pay down my part of it, not counting what the government dumps on me.
Last time I checked, the difference between mortgage debt and the value of the property secured by mortgages was about $6 trillion. Those are real losses that someone is going to have to take: either a bank, a homeowner, or the government through FNMA/FHMC/FHA/VHA.
ReplyDeleteIt's going to take me years to pay down my part of it, not counting what the government dumps on me.
Mr Slippery,
ReplyDeleteRemoving all the homes that have been paid off in full would certainly make the remaining data all that much scarier.
here's me graph for that
ReplyDeletehttp://research.stlouisfed.org/fred2/graph/?g=2s4
(. . . much scarier I means)
ReplyDeleteI have fantastic news.
ReplyDeleteI helped the economy out big time today.
I saw the dentist to fix my broken crown. I'll also be helping the economy again in about 6 weeks to put the new crown in.
Woohoo! Sigh. ;)