patrick.net

http://mobile.businessweek.com/articles/2012-12-06/the-foreclosure-wave-that-wasnt

It still may be a little early to pronounce the housing slump over. Almost a quarter of all U.S. homeowners with a mortgage owe more than their homes are worth, making them candidates for future defaults. Robert Shiller, an economics professor at Yale University and co-creator of the S&P Case-Shiller home price indexes, believes the inventory of potential foreclosures remains a threat across the U.S., especially if the economy slows. “It’s funny how people have so much confidence in the recovery. History shows that these markets are hard to predict.”

#housing