Quote:
Originally Posted by vnmonica
Unfortunately, I agree with Terri. I think the first few months of 2008 will be the worst, then maybe we will see some glimmers of hope in the spring time. I think housing foreclosures will peak during the winter.
|
This link is to a post on the Calculated Risk blog with a pretty well-known chart from Credit Suisse that shows monthly mortgage rate resets:
http://calculatedrisk.blogspot.com/2...set-chart.html
With subprime resets looking very high throughout 2008, I agree that the foreclosure peak probably will not come until next winter around Q1 or Q2 2009, and I don't think the government's subprime rescue plan will be of much help.
Just for the sake of discussion, do you think there is anything that can be done to forestall a significant drop in consumption?
