Saturday, July 18, 2009
2009 Projected Foreclosures in the USA: 1 of every 21 households !
Mike Shedlock gives a brief commentary on a communication he received about American foreclosure rates. Obviously we must be wary of using data about the American market to forecast the UK but there is a well known tendency for American economic problems to visit our shores. I knew things were bad but Mish's prediction of 1 in 21 households being reposessed is horrific.