Who do you believe? People saying, "it looks as if...," "In 1987 it was just like...." "Economists all agree... ."
Or facts???????
Had lunch with a buddy of mine yesterday. He went through a messy divorce last year, ended up filing Chapter 13 bankruptcy, so he could keep the house (he got it, she ran off with another guy).
His mortgage is with Countrywide. To this date - 12 months later - Countrywide STILL has not filed the paperwork to begin receiving payments from the trustee (FULL value mortgage payments, not partials). Countrywide’s behind about $20K by their own doing, doesn’t affect my buddy at all since he’s on top of his bankruptcy payments...
Maybe Countrywide’s problems are not just the market? I wonder how many other people out there have money just sitting for them to claim...