Of course some other curves overlain might also be amusing, such as the gross valuations of the housing base (?down 20 or more percent?)
It is almost certainly bad, but probably not as terrible as the single statistic suggests, we are into the edge of the baby boom retirements and for a brief time, total of home ownership was up. It is also like the more dire talking points about credit cards, while many do not carry balances.
It will be interesting to see what the curve looks like over the next 10 years, My expectation is that it doesn’t really get better as even those with equity remaining may be forced into situations where they need to access it.. on the other hand, the near term my have no sources willing to lend.
Oh, how are we counting the loss of equity in this chart, is that naturally extracted, or do only loans count
October 15th, 2008 at 1:07 am
Of course some other curves overlain might also be amusing, such as the gross valuations of the housing base (?down 20 or more percent?)
It is almost certainly bad, but probably not as terrible as the single statistic suggests, we are into the edge of the baby boom retirements and for a brief time, total of home ownership was up. It is also like the more dire talking points about credit cards, while many do not carry balances.
It will be interesting to see what the curve looks like over the next 10 years, My expectation is that it doesn’t really get better as even those with equity remaining may be forced into situations where they need to access it.. on the other hand, the near term my have no sources willing to lend.
Oh, how are we counting the loss of equity in this chart, is that naturally extracted, or do only loans count