Thursday, August 27, 2009

Housing Bottom Joy

An udpdate on the media's housing bottom. The chart below shows subprime loan resets ending and never to return:



The next update shows us where we are in the real world. The chart below shows the Option A loan reset/explosive time bombs set to detonate:



Supply of homes on the market has now fallen to 7.5 months, again showing signs of a housing bottom. However, what is not accounted for is the foreclosure inventory sitting on the banks books because they do not want to take their write downs:

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