False Dawn

There’s a tremendous propaganda push, presumably emanating from the Obama campaign, to persuade folks that a housing boom is here, or at least arond the corner, and they’d better get with the program.

Actual data sends a very different message.

In addition, when you consider that the economy is rolling over into recession and add in the coming maturity cliff in home equity loans

Ten days ago, the Office of the Comptroller of the Currency published some frightening figures about the looming payments. In its spring 2012 “Semiannual Risk Perspective,” it said that almost 60 percent of all home equity line balances would start requiring payments of both principal and interest between 2014 and 2017.

it becomes pretty clear that there is little relief ahead.

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