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To: mishedlo who wrote (191385)	9/10/2002 10:23:41 PM
From: yard_man	Respond to of 436258

good 'context' there ... >>The percentage of FHA loans that are delinquent rose to a record high 11.81, the trade group said. The group's quarterly survey also showed the number of home loans on which foreclosure was started rose to its highest quarterly rate ever at 0.4 per cent. That this is occurring with mortgage rates at forty year lows provides eloquent testimony to the parlous state of the American consumer's personal balance sheet. << this is what we all expect to happen. Arbitrarily low rates for money yield overindebtednss to the pt that rates can't be lowered enough to enable debt service to continue -- the debt bubble is probably popping right now -- media and markets may actually recognize it with a lag, the thinking about how wonderful lower rates are being so ingrained.