Or as horrible as some around here portray it.
exactly...it’s bad, but seriously easily over 90% or more are paying on time in many many places across the country.
Bottomline, some unscrupulous loans were made, some bad decisions by folks, some ridiculously unsound loan programs that were invested in by many and poof, bad stuff...it’s not surprising but also not a dooms day scenario...give it two years and we’re all back to a pretty normal housing market where houses are affordable and equity will grow at a more normal 3-5% in most places vs 200% in some places like AZ/CA, etc...
It’s a good old fashioned market correction as much as many many people don’t want to hear it, it’s true.