Ya don't say? Golly, this is radically new news and something that I never would have thought about other than a few dozen times going back to the start of this crisis.
...Now here's the bad part: Non-prime loan delinquencies increased by 23 percent. Prime loan delinquencies increased by 70 percent.It's no wonder CNBC is the leading economic news source with this kind of coverage.
The prime loan delinquency increase is driven not by faulty loan products or falling home prices, but by job losses, plain and simple.
This current housing crash has distinguished itself from all previous because it was not caused by any economic downturn. Quite the contrary, it caused the economic downturn.
