Interesting chart from the WSJ showing where defaults and delinquencies have increased the most.
What's up with Stockton or Modesto, CA?
3 comments:
Anonymous
said...
I'd assume that those areas are dominated by a single lender (or maybe a group of lenders) with particularly bad lending policies.
The person who invested everything in dotcoms in the late 90s would outperform everyone else (which would explain the rise of someone who made reckless loans during the growing phase of a bubble) and they'd crash harder than anyone else when the bubble bursts.
California and Florida were at the top of the chart for overpriced housing that you posted a while ago, right? I'm not surprised that they'd have the highest default rates.
DOn't know if it would be just one lender. I'm pretty sure all the lenders in the past 5 years have been idiots. I'm just wondering what it is about those two counties in California that give them the highest default rates.
Anon
Yeah, I saw it. I tried to find month's supply data for Miami Dade but couldn't find it.
3 comments:
I'd assume that those areas are dominated by a single lender (or maybe a group of lenders) with particularly bad lending policies.
The person who invested everything in dotcoms in the late 90s would outperform everyone else (which would explain the rise of someone who made reckless loans during the growing phase of a bubble) and they'd crash harder than anyone else when the bubble bursts.
California and Florida were at the top of the chart for overpriced housing that you posted a while ago, right? I'm not surprised that they'd have the highest default rates.
Did you see this article?
http://quote.bloomberg.com/apps/news?pid=20670001&refer=&sid=a4qa.rYTWyYA
Ryan,
DOn't know if it would be just one lender. I'm pretty sure all the lenders in the past 5 years have been idiots. I'm just wondering what it is about those two counties in California that give them the highest default rates.
Anon
Yeah, I saw it. I tried to find month's supply data for Miami Dade but couldn't find it.
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