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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Smiling Bob who wrote (114719)4/4/2008 7:20:23 PM
From: bela_ghoulashiRead Replies (1) of 306849
 
The money quote:

Lenders who allow owners to stay in their homes are distorting the record foreclosure rate and delaying the worst of the housing decline, said Mark Zandi.....

``We don't have a sense of the magnitude of what's really going on because the whole process is being delayed,'' Zandi said in an interview. ``Looking at the data, we see the problems, but they are probably measurably greater than we think.''
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