Mon, 11 Feb 2013, 11:35pm PST
That's easily explainable.
"All cash buying of homes reach record levels in 2012"
it may be easily explainable. But I'm not sure it has much anything to do with the level of cash purchases last year. Id figure its to be expected now that we are about 6.5 years past the peak of the bubble. And 5.5 years past the end of the majority of the financial gimmicktry that allowed for the insanity. I doubt there's many folk left standing with a bubble era loan of size and scope, that can't afford to keep paying, if they've survived this long.
By Labor Day in 2007, the easy credit rug had been pulled out from under everyone, and aside from the countless attempts from the gov to capture more suckers on the way down. So naturally there should be less and less new delinquents. I was thinking the same thing when I happened on some yabbering media shlep praising a decline in the rate of new unemployment benefit filings. Well no shit, shirley! Its all farking relative