Jul 06
This is an opinion piece in the Wall Street Journal but with a lot of data behind it so I thought worthwhile to share. What is does is show the causes of a large ream of foreclosures and dispels some of the myths of what is causing it. We've discussed since 2007 the "walk away" situation happening as first 1 in 6 [ Oct 9, 2008: WSJ - Nearly 1 in 6 Homes Underwater ], then 1 in 5 [ Mar 9, 2009: One in Five Houses Underwater ], and now approaching my long term prediction that 1 in 4
