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Notes to myself, possibly of interest to others.
-- Bill Northlich
Thursday, April 22, 2010
Rosenberg Daily - Where's the Consumer Boomlet Coming From?
Rosenberg, 3/22: ...at least six million American households are no longer paying their mortgage and are living for free in their home because the banks don’t want to evict them and become a reluctant landlord or have to bite the bullet and write down the value of the property on their books. Right there we have a situation where at least $100 billion of consumer cash flow that has been freed up for fun and games in the name of strategic mortgage defaults.