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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: John Vosilla who wrote (47426)12/15/2005 2:47:24 PM
From: Ramsey Su  Read Replies (3) of 110194
 
John,

there is almost no reason for any delinquencies. Just imagine if you are sitting on a property in any one of the high appreciation areas, the options available are plenty. Financing is still easy to come by. Selling to get out from under debt that you cannot service is always the best move.

The foreclosure process generally has to start with insufficient cash flow for whatever reason. Then they dip into savings, or their relatives' savings, if any. The next phase is robbing Peter to pay Paul, usually via credit cards. That is why foreclosures are trailing indicators by a long margin.

Furthermore, I am beginning to wonder if we ever had a real estate bubble in the single family arena. As bad as time were during the RTC era, it was land, office, apartments etc that got hit a lot harder than the single families. It may be different this time.
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