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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jason W who wrote (522)	8/29/2001 4:08:23 PM
From: patron_anejo_por_favor	Respond to of 306849

Jason, I'll add that the time frame looked at was for the first 3 months of 2001. Unemployment has increased since then, layoffs have increased, the stock market has dropped and consumer bad debt chargeoffs and delinquencies have been noted by credit card issuers and mortgage lenders (ie, GDW) alike. So the rate is without question substantially higher than that now, and continuing to rise. Foreclosure rates are closely correlated with unemployment. A 1% foreclosure rate would have MASSIVE repercussions in terms of debt write offs, due to the leverage applied to these loans. All FWIW....