Atrios notes that Americans are missing more mortgage payments. I’m shocked, I tell you, shocked.
Loans more than 90 days past due rose 10.6 percent to $66.9 billion in the period ending June 30, the largest quarterly increase since 1990, the FDIC said in its Quarterly Banking Profile released today.
If you’re still invested in anything — anything — that has to do with home construction, loans, or sales, you are an idiot. Actually owning a home is beginning to look sort of questionable too. The stock market is absolutely going to get a lot worse before it gets any better.