Tuesday, March 18, 2008

Not Perspective, but Panic

CARPE DIEM: Some Perspective on Subprime Mortgages:
"Of the 46 million mortgages, 2.04% were in the foreclosure process in the fourth quarter of 2007, or about 940,000 homes. Of the total number of homes (69.7 million) including those with no mortgage, the percent of all homes in foreclosure was 1.35%. Obviously then, 98.65% of homes were NOT in the foreclosure process in QIV 2007."
Sometimes it is panic that matters, not perspective. If you panic, you are often dead. If you pause to examine facts, you are far better off.

Unfortunately, panic may rule the day.


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