Analysts warn about more trouble in housing market

bullish!!!!!!!!!!!!!!!!!!

Redefault is a serious issue. The data backs this up, An underwater mortgage has a very high probability of redefaulting.

News flash!!!!! People who stop breathing are likely to be dead!

Old news, move on.

But this is NYC -underwater, foreclosure, defaults, bankruptcy -- these are all terms I am unfamiliar with.

sjtmd...you're not familiar with those terms because they don't exist in manhattan or other prime areas to a significant (ie market moving downward spiral) extent....

maybe they will one day...maybe not...but regardless of one's view, it helps to be grounded in what is ..so far...actually happening

Underwater is an olde english term last heard in the ancient history of 1990-4. Back then people who bought apartments in the late '80's couldn't sell them for more than was owed on them until the market returned to the previous height (c. 1999-2000) and then continued to redouble through 2007.

In NY it takes a different look than foreclosure. Instead, a newly married couple or one starting a family (1 to 2 kids) has to stay squeezed in the old apartment until they can sell. Even though there was a market to which they could rent it their co-op, the one "protecting" them from all market forces, won't permit it.

Some will sell as soon as they can, others will just stick it out until the market changes.

NY is not immune to market forces. And when they do hit NY they tend to look different then elsewhere.

Grounded in fktardedness