Thursday, November 19, 2009

We've All Been Subprime For Quite Some Time

How long is this going to go on before reporters stop being surprised that people other than shifty poor people are in trouble.

The latest evidence was a report Thursday that a rising proportion of fixed-rate home loans made to people with good credit are sinking into foreclosure. That's a shift from last year, when riskier subprime loans drove the housing crisis.