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To: michael97123 who wrote (392781)6/19/2008 9:15:50 PM
From: steve harris  Read Replies (1) | Respond to of 1577931
 
I would think home foreclosures are increasing because the same people who bought too much house, also bought too much vehicle they can't afford the gasoline for.



To: michael97123 who wrote (392781)6/20/2008 4:51:58 PM
From: tejek  Read Replies (1) | Respond to of 1577931
 
"Foreclosures are increasing because of the mort. resets not because houses are underwater."

We are in a recession so they are increasing for both reasons and thats why i am worried BDT.

Officially, we are not in a recession yet.......unofficially maybe. But the high foreclosure rate is due more to the resets than any recession. Why do I say that? Because the unemployment rate is not that high yet.


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