More Foreclosures on Prime Than Subprime

Started by nyc10022

almost 18 years ago

Posts: 9868

Member since: Aug 2008

Discussion about

I found this rather interesting. It is national market, but it looks like subprime has officially leaked into prime... more foreclosures are off prime loans than sub-prime http://norris.blogs.nytimes.com/2008/08/31/prime-foreclosures/

Response by urbandigs

almost 18 years ago

Posts: 3629

Member since: Jan 2006

this 'leakage' into prime has been well underway for a few while now; prob a few quarters. JPM CEO Dimon said on last quarters earnings call (mid July) that prime was simply looking 'terrible'.

http://www.urbandigs.com/2008/07/dont_look_know_financials_lead.html

Dimon is pretty straight up. No reason to ignore a statement like that almost two months ago

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Response by dco

almost 18 years ago

Posts: 1319

Member since: Mar 2008

I have said numerous times, this was never just a sub-prime problem. People were were given way more then ever could have afforded. How much will this cost? I thought we were close to a bottom?

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Response by kgg

almost 18 years ago

Posts: 404

Member since: Nov 2007

Bottom, schbottom.
I'd like to see a compelling rebuttal to that. Please include exhaustive research and data points.

More Foreclosures on Prime Than Subprime

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