foreclosure predictor

08Mar08

I’m watching a video of Larry Summers giving a speech on the market situation. It is definitely worth watching if you’re interested in these things.

I found this statement interesting, largely because it actually runs contrary to my own common sense:

Study after study has now confirmed what common sense should have suggested, that the key determinant of foreclosures is the behavior of house prices and the decline in the value of house prices rather than the income and cash flow circumstances of the borrowers.


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