Bloomberg confirmed that today.
This was the year thousands of U.S. homeowners with option adjustable-rate mortgages were supposed to default as their payments spiked. Low interest rates and a surge of early delinquencies mean the numbers probably won’t be as bad as forecast, softening the blow to a housing market where prices have resumed falling.What it boils down to is these people walked years ago.
The big story now is jobs and financing for the sea of empty affordable houses. I am not sure anything can be done in places like Las Vegas and Florida, but in much of the rest of the country it is approaching the point of buying being less than renting.