There's always a lot of market blabber about econometric models, quantitative versus qualitative data and plain old anecdotal stuff.
In medicine anytime the unexpected happens that the brains can't scientifically explain it's called benign remission.
In 2006 before the California real estate market started convulsing, we wrote a piece about seeing our first red-reduced-in-price sign on a tony lawn in a tony neighborhood near the beach 30 miles south of Los Angeles.
It was a familiar neighborhood, a spot where home prices went only one way--up. Here's a link to the article:
http://www.safehaven.com/article/4545/the-love-song-of-the-us-home-owner.
So what's the point? Just this. If you talk to people and banks about their mortgage experiences, just everyday banks and everyday people, you'll appreciate this piece in this week's Barron's.
http://online.barrons.com/article/SB50001424053111904628504579419442285646018.html?mod=BOL_twm_fs
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