[memories]

Interesting, in the Phoenix area, there are hardly any foreclosures because homes have appreciated so fast, some 30% in the past year. If people cannot make their payments, they can easily sell their home for more than the mortgage balance. Perhaps the Denver area prices are not as good because the city is so liberal.

[ColoCdn]

bttt

[Patti_ORiley]

If we are seeing large numbers of foreclosures at a time when interest rates are so low, then think of what we're in for when rate rise -- as they should be doing now, but for some reason are not -- and ARM rates push payments higher and higher.

[RegulatorCountry]

Denver doesn't capture the imagination of internet buyers, here or overseas. The well-known cities and the beautiful places are where the action has been. There are derivatives of sorts popping up, paper houses sort of like paper gold. It's going to get even stranger, in my opinion, so long as rates stay low, appreciation doesn't turn into depreciation and the stock market continues sideways. The end of all this can't be good, but it might be a few years yet. Outlook from some highly placed sources seem to think that this trend of low long term rates could continue for 3 - 5 years, dropping to as low as 3.5%.

It's scary, and I would prefer that it calm down sooner rather than later, myself. But, this is what I've read over the last few days.

[dakine]

This is a GOOD thing, rather see it affect the individual. Teach the ones a lesson....