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Prime foreclosures are next

  1. Jan. 4 (Bloomberg) -- Homeowners with the best credit are the next big risk for the U.S. housing market.

    An increase in mortgage defaults among prime borrowers in 2009 is likely to accelerate this year, slowing the real estate recovery even as Americans become more optimistic about the economy, said Robert Shiller and Karl Case, the economists who created the S&P/Case-Shiller Home Price Index.

    http://www.bloomberg.com/apps/news?pid=20601087&sid=am2z88Oy1kJs
     
  2. Seems the worse the news the higher stocks go. Housing prices have plenty of room to fall, the programs put into place are only going to prolong the eventual drop in housing.