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« Is it Time for Some Tough Love? | Main | Talk Amongst Yourselves » March 07, 2008PerspectiveForeclosure 'crisis' is overblown - MSN Money Sure, there are pockets of pain around the US, but it's not as if most Americans are losing their homes. More than 99% of homes aren't in foreclosure.There's a bleakly humorous saying to the effect that a recession is when your neighbor loses his job, and a depression is when you do. A similar equation is at work in the real estate biz: for those of us who are either in, or threatened with, foreclosure, or who have seen our next-door-neighbor's foreclosure drop our own home's value by 25-30% (my particular situation) this may feel like a crisis. But for the vast - and i do mean vast - majority of homeowners, the crisis doesn't exist in any meaningful, personal way. And many of them aren't aware of any crisis at all. Posted by Bill Quick on March 7, 2008 10:40 AM | Permalink TrackBackTrackBack URL for this entry: Comments |
"But for the vast - and i do mean vast - majority of homeowners, the crisis doesn't exist in any meaningful, personal way. And many of them aren't aware of any crisis at all."
...yet.
Posted by: dealmakerz![[TypeKey Profile Page]](http://www.dailypundit.com/sfrealblog/nav-commenters.gif)
| March 9, 2008 12:20 PM