I thought this chart was interesting:
chart credit to CalculatedRiskBlog.com
- Good news – we’ve been moving sideways for about a year now, maybe a bit longer.
- Bad news – 14%..! That’s approximately 1 out of every 7 mortgage loans in the US in some state of delinquency.
- Good news – we saw the worst of the unemployment in 2009, as UE spiked from 5% to 10%, and yet we didn’t see a corresponding spike in distressed mortgage loans. (… yet?)
- Bad news - “real unemployment” is much higher than 10%, and isn’t showing signs of decreasing anytime soon.
Are we is a state of consistency right now, or will we see another upward trend over the next year as a result of the consistent high unemployment economic environment we’re in?
That’s the billion dollar question…
Your wishes he knew the answers Realtor,