Thursday, April 16, 2009

Home Starts Down 10.8% in March

Right there in the video list is a report by 60 Minutes last year that tells us that the rise in foreclosures won't stop until around the end of 2011. So if foreclosures are not going to stop until around 2011, what makes us think that housing starts are going to somehow magically increase?

What about all those Alt-A and Option ARM mortgages that have yet to default and foreclose? Mr. Mortgage said not too long ago that California is about to explode with foreclosures.

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