Thursday, Oct 04, 2007
Subprime Fears Overblown
Money-Rx Blog: James F. Smith (EconForecaster)
Dr. James F. Smith is the Chief Economist for Parsec Financial Management, Senior Fellow and Director, Center for Business Forecasting, Kenan Institute, University of North Carolina and former Chief Economist for the Society of Industrial and Office Realtors® (SIOR). "The subprime mortgage problem is probably wildly overblown. Subprime mortgages are estimated to make up no more than $500 billion of the nation’s total $9.8 trillion of mortgages. Furthermore, at most $100 billion of these subprime mortgages are expected to default. This is not big enough to cause the turmoil that we’ve seen in global financial markets, suggesting that investors are overreacting."
Posted by t franklin @ 06:53 AM (147 views) Add Comment
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