Comments on: Foreclosure Filings Up 81% in 2008 http://donklephant.com/2009/01/15/foreclosure-filings-up-81-in-2008/ Big Teeth. Huge Ass. Surprisingly Reasonable. Mon, 23 Nov 2009 13:07:11 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Abedha http://donklephant.com/2009/01/15/foreclosure-filings-up-81-in-2008/comment-page-1/#comment-435301 Abedha Mon, 19 Jan 2009 22:29:32 +0000 http://donklephant.com/?p=12798#comment-435301 To be honest, it's only going to get worse. There's no way around that and you have to accept reports like this. Foreclosures are just going to increase during 2009. To be honest, it’s only going to get worse. There’s no way around that and you have to accept reports like this. Foreclosures are just going to increase during 2009.

]]> By: wj http://donklephant.com/2009/01/15/foreclosure-filings-up-81-in-2008/comment-page-1/#comment-435139 wj Thu, 15 Jan 2009 17:19:00 +0000 http://donklephant.com/?p=12798#comment-435139 This is why I hate headlines. At first glance, it is all too easy to read this one and think "Oh horrors! 4 out of 5 mortgages are ending in foreclosure!" When the accurate reading is more like "Wow! As bad as the problems with sub-prime mortgages are, the number of foreclosures hasn't even doubled at this point." That's not to say that the problem isn't worth looking into. But it is at least avoids fanning the flames of panic at the situation. And panic is probably doing more damage to the economy right now than the real problems we face. This is why I hate headlines. At first glance, it is all too easy to read this one and think “Oh horrors! 4 out of 5 mortgages are ending in foreclosure!” When the accurate reading is more like “Wow! As bad as the problems with sub-prime mortgages are, the number of foreclosures hasn’t even doubled at this point.”

That’s not to say that the problem isn’t worth looking into. But it is at least avoids fanning the flames of panic at the situation. And panic is probably doing more damage to the economy right now than the real problems we face.

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