The graph may or may not be accurate... The point I'm trying to make is if the graph is made from basically the same data ( and I assume it is ) then the higher risk mortgage resets are behind us... Those were the sub prime category. The next wave is the "option arm" category and is almost as large in numbers. The difference I see is that the option arms probably have a lower foreclosure rate than the sub prime AND they also are coming due in a lower interest rate environment offering a better opportunity for borrowers to refinance at attractive rates. So my conclusion is that the worst of the foreclosure stuff is behind us... Not in front as so many would have us believe. Obviously part of the problem is that ANY continued foreclosures will continue to put pressure on the entire financial system.
My sense is that we are very close to the bottom in the housing market... At least in my area. ( Actually we have yet to see negative real estate values.) Some people talk about what they could do if they had some money... Others provide advice about what I could do and when it's all over most will talk about what they could have done. I'm putting my money where my mouth is... I just made an offer on a short sale in one of the most desirable addresses in my area, this is the third property we will purchase in this down turn. We'll see how this play out. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=39062371
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