Jul

11

I just came across an interesting graph posted up at Patrick.net that seems to indicate the worst is yet to come in terms of recovery for the housing market.

It shows the ARM resets and it appears that we’ll get some relief late this year and in 2009 but we’ll have a whole fresh wave of foreclosures due to ARM resets in 2010-2011.

Check out the graph here.

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1 Comment so far

  1. William Higgins on July 17, 2008 9:43 pm

    I must be missing something because ,it seems to me that the solution to all this sub-prime meltdown and bank foreclosures is just not allow ARM’s to reset. If in fact, ARM resets will cause another flurry of foreclosures and financial cataclysm then leave them as they are.

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