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

To: patron_anejo_por_favor who wrote (73700)	3/12/2007 9:01:06 PM
From: saveslivesbyday	Read Replies (1) \| Respond to of 306849

Other Frohlich statitstics distored and taken out of context: He says: "During the peak of the industry's growth in 2004 and 2005, about 3.2 million homes were purchased with a subprime loan, Froehlich estimated. That's about 2.8% of total U.S. households, he wrote. There are roughly 114 million homes in the United States, so that means more than 99% of households are either making their mortgage payments or managing to pay rent. "These numbers suggest that most U.S. consumers are unaffected by the subprime debacle," he concluded." 1. 3.2 million homes purchased divided by total U.S. households? Thats dividing apples by oranges. 2. 114 million homes in U.S. - what does this have to do with anything? Many of these have no mortgage payment, and those who pay rent aren't even part of this discussion....

To: patron_anejo_por_favor who wrote (73700)	3/12/2007 9:41:16 PM
From: Think4Yourself	Respond to of 306849

Sounds like Mr Frohlich is going to be looking for a job real soon. Suspect his portfolio is loaded with subprime lenders. As for his Y2K comments, I worked on fixing those for years. They were very real, especially in old COBOL code. Y2K was largely responsible for the tech boom as many companies chose to upgrade their hardware at the same time.