therearereinsurance'sinplace,plusbankswon'tmassforeclosehouseholdsduetoCovid.realitymightfallbetweentheextremesbutI'moptimisticthatthegovmeasureswouldpreventafullblownproperty/Homeloancrisis.Fair comment. There will be some delay in foreclosures, but people wont want or be able to stay in -ve equity forever and it will be many years before the housing market gets back to its present lofty valuations so its not like they will be able to just ride it out.
I wonder when the annual renewal is due on those reinsurances. They may find that the cost is prohibitive, that's if they give any coverage at all.
Ann: Appendix 3Y - Duncan West, page-19
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