Donna brought up the 60 Minutes piece from last night and I thought I'd share. Is interesting to note that at the end the interviewee indicates that there are bargains in the stock market now because the stock market has finally figured out the massive problems that got it into the mess it is in.
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I'd love to hear from local lenders as to how many Alt A and Option ARM's were written locally after the wave of sub primes, in terms of percentages at the least. Sales in terms of units has been off drastically as compared to 2005 and according to the 60 Minutes piece, the Alt A and Option ARM's were more the rage in 2006 and 2007. Of course in those years, many new homes were sold that may not have been represented by Realtors and therefore appeared on the MLS and hence did not show up on my monthly reports.
If lenders won't chime in... feel free to add any guesses or provide any data that you may have.