August 22, 2007
Want to see the housing version of f*ckedcompany.com? Just go to the data section at National Mortgage News
Thought you'd find these numbers and charts interesting. What's most amazing about the charts is how the MSM and NAR spin these housing numbers as "down slightly" or "bottoming" or even "improving". Man, my eyes must deceive.
Keep in mind on the lenders that in many cases, the lender is not the bag-holder. Take Wells Fargo, who makes the loan then gets rid of it as fast as they can like a toxic hot potato. So yes, now that these types of loans are no longer being made, their lending business will collapse, destroying their revenue and profits, but it's the bag-holders that are really gonna take it in the shorts.