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?
Please forward questions, corrections, and reactions to comments below or send me an email: