Property Down 30 Percent. Mortgages Down 2 Percent. Everything Which Diverges Must Collapse.
You know about a housing bubble, but not a mortgage bubble. Why?
Seeing the mortgage bubble requires both competence and independence and a little courage. These are not available at Joe-or-Jane magazine or newspaper.
A crash in mortgages represents a true-and-possible Armageddon scenario. Property values have fallen 30 percent and mortgage balances have fallen 2 percent.
One measure is right and one is wrong. In your heart, which one do you think is true?
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