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: Mortgage Lender Implode-o-Meter

Prices Fell .64 Percent in February, But Gained 1.43 Percent In Last Year

By Implode-Explode Heavy Industries

"Clouding any and every forecast on property values should be record delinquencies of 15% of all mortgages outstanding, unemployment at just under 10%, and a mortgage market of exceptionally high risk which has been abandoned by all private money sources. About 13.6 million homeowners have no equity or negative equity and therefore have no current wealth to protect by making their mortgage payment. Real estate prices would fall flat on their face without government mortgage money which represents nine of ten new mortgage dollars."

Full post as published by Mortgage Lender Implode-o-Meter on April 28, 2010 (boomark / email).