PAUL BARRY: The figures suggest that the worst is still to come. This year and next $900 billion dollars of subprime loans are going to reset to higher interest rates. Taking time lags into account, we are essentially here on the graph (graph showing bar highlighted for Sept 07, last bar is July 08, highest bar is at March 08). In California as in Cleveland we’re nowhere near the end.
PAUL BARRY (to Jimmy Adams): Do you think we’ve seen the worst yet?
JIMMY ADAMS, REAL ESTATE AGENT, RIVERSIDE, CALIFORNIA: No I don’t. My projection and the way I look at this and have studied it is that we are in the end of the first quarter of a four quarter game.
"graph showing bar highlighted for Sept 07, last bar is July 08, highest bar is at March 08"
"graph showing bar highlighted for Sept 07, last bar is July 08, highest bar is at March 08"
well if fourcorners was broadcast in Sept 07 and the last bar is July 08
