June 15, 2007


Is the Foreclosure Crisis Real?: Activity is on the rise nationwide, but only a handful of states are responsible and delinquency rates are down (Maya Roney, 6/14/07, Business Week)

Know anyone dealing with foreclosure right now? You may—if you live in the Midwest, or in overheated real estate markets like California, Florida, Nevada, and Arizona. The rest of you are probably wondering what all the fuss is about.

Here's something to confuse you further: On Thursday, June 14, the Mortgage Bankers Assn. announced that the delinquency rate for mortgage loans on residential properties fell 11 basis points in the first quarter of 2007, to 4.84%, from 4.95% in the fourth quarter of 2006.

Sure, but just because none of the fathers in our neighborhood are on street corners selling apples doesn't mean this isn't a second Great Depression.

Posted by Orrin Judd at June 15, 2007 7:47 AM

Wait a sec, not only is there a movie about the Sawx new leadoff hitting rightfielder, but there were books, a whole bunch of them too?

(Man, the Hub faithful were rough on ole Nancy last night, sounds like Sawx fans are alrady assuming the traditional August position -- curled in fetal ball with thumbs in mouths, whimpering.)

Posted by: Jim in Chicago at June 15, 2007 9:07 AM

Speculating house flippers will get singed. Big woop.

Posted by: Luciferous at June 15, 2007 9:43 AM

That's the nice thing about dominant pitching--the Sox have "slumped" to the best record in baseball while the Yankees streaked to .500.

Posted by: oj at June 15, 2007 11:50 AM

This chick's definition of the Midwest must terminate somewhere around Cleveland.

From Chicago west there's so many houses being built and sold that the contractors have to hire American citizens to keep up....

Posted by: Chris B at June 15, 2007 1:03 PM

What a segue! From mortgage defaults to baseball.

Posted by: erp at June 15, 2007 3:19 PM