Statjunk
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Didn't know where to post this so I just figured this is a good place.
I work at a bank as a Credit Modeler. Yup I figure out how likely you are to default and price you accordingly.
I heard some really terrible projections this week while in meetings. I can't tell you where this information comes from because it's proprietary and expensive.
A very large rating agency, that should give you a clue, recently issued a statment that indicates that 2008 will be the worst year yet with an expected 11% decline in property values followed by 3.5-4.5% for the two years after that.
The bottom line is that in the next three years we'll be looking at our houses being worth 17% less.
I also read recently that we're currently sitting at a 40% chance of a full recession.
I figured I would share this stuff incase anyone is thinking about making some moves. I know I was about 30 days ago.
Tom
I work at a bank as a Credit Modeler. Yup I figure out how likely you are to default and price you accordingly.
I heard some really terrible projections this week while in meetings. I can't tell you where this information comes from because it's proprietary and expensive.
A very large rating agency, that should give you a clue, recently issued a statment that indicates that 2008 will be the worst year yet with an expected 11% decline in property values followed by 3.5-4.5% for the two years after that.
The bottom line is that in the next three years we'll be looking at our houses being worth 17% less.
I also read recently that we're currently sitting at a 40% chance of a full recession.
I figured I would share this stuff incase anyone is thinking about making some moves. I know I was about 30 days ago.
Tom