Thursday, May 20, 2010
A New Record!
See how well the economy is doing with "Share the Wealth" Obama and "Zimbabwe Ben" Bernanke at the helm?
The Mortgage Bankers Association claims that One in ten US mortgages is now late on payments and one in twenty is in foreclosure!
That's a new record!
Glad to see all that emergency TARP and bailout money helped save those families.
But let's look on the bright side - Building permits fell sharply last month which means that fewer homes will be built. That of course means that fewer mortgages will be written, which means there will be fewer foreclosures and strategic defaults!!!!
Now that's what I call green shoots! (wink)