"I just don't get how a bubble bursting on you is not a problem?"
You see what you want to see. Rise in bankruptcies so what sounds big how they have presented the information but the reality is it is not a large percentage considering the number of loans out there. Also as Pasqual has pointed out there is nothing to indicate why these people went bankrupt - how many of these actually went bankrupt own a home?
Its like every year a few people get struck by lightning (say 3 for example purposes) now if this year 5 people get struck by lightning we can say there was a 67% increase (sounds big). Now does that make it a big problem - No as we are talking 5 people out of around 6 billion i.e. 0.00000000083% (versus 3 out of 6 billion = 0.00000000050%) so given perspective it is not such a big problem after-all.
