Bubble Tracker's Got the Goods
Lets all do the new dance... "The Mortgage Slide" over at BubbleTracker's place.
If you think that a world without charts and graphs would be too terrible to contemplate, you can get your fix with these guys.
The latest graph shows that the MBA Purchase Index has been sliding steeply for the last 2 quarters.
OMG! What does this data mean? Could it be a harbinger of things to come?
Is it enough that inventory of unsold houses have soared?
Is it enough that clear and present mortgage/appraisal fraud and abuse exists?
Is it enough that prices have risen well above wage increases and affordability?
Is it enough that we have numbers telling us of the massive number of people in debt, and the massive number of people who cannot afford to buy a house?
Is it now enough that we have evidence that indeed many people are now not getting mortgages?
Can we interpret real data as a marker of broader trends?