About 40 percent of the 7 million subprime loans outstanding will default in the next two years. The defaults of option-adjustable-rate mortgages and other mortgages subject to rate reset will be of the same order of magnitude but over a somewhat longer period of time. This will maintain the downward pressure on house prices.
Moved from the "United States" forum. Original message number: 669
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About 40 percent of the 7 million subprime loans outstanding...
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