Tuesday
Feb092010
Here Comes The Next Wave Of Adjustable Mortgage Resets
Tuesday, February 9, 2010 at 4:15PM The next wave of adjustable mortgage resets is at hand and by the looks of this chart, it will not be pleasant, and there will be no avoiding its fallout. In fact, the next batch makes the first batch look rather docile by comparison:
It may be time to hold on. It looks to me like we may now be just hitting the rough air.
Reader Comments (6)
Oh, can't wait for this s*** to hit the fan. Does this mean I should hold off on starting that new business?
Obama...destroying America, one job at a time !!!!
Can't wait. Anymore good news?
Hey Barney Frank! Are you out there? What do you have to day about this? Do you deserve any blame? Does anyone in government deserve any blame? How about you Chris Dodd? Isn't it your job to look out after the evil banking and Wall Street fat cats to make sure we're not all done in by their greed? Barney, how is your ex-boyfriend doing....the one who was an executive at Fannie Mae? Chris, how are you enjoying your below market mortgage.........oh, wait.....you decided to retire. Coincidence I'm sure. Well, in the good old days people put down 10 or 20% to buy a house. Seems our parents and grandparents were smart about a lot of things. But that was back when there were Democrats who were actually conservative and didn't just talk that way at election time. But I'm hopeful there will be accountability in 2010.
Not to dispute the figures, but I checked out T2 Partners (source of this data). Looks like they're primary into selling a book back in late 2008 and early 2009. Tons of PowerPoints with lots of charts and data, but how credible is it? I'd never heard of them before.
I do agree, if the chart is accurate, then the rest of this year through 2011 will have more turmoil in real estate.
Bruce, I picked that off of the Business Insider in a post by Michael Snyder.
http://bit.ly/8XuywZ