As indicated on my new moon article I pointed out that Scorpio, the investing sign, was terribly challenged by two Aquarius planets and Chiron. I said that our money would be in trouble and the stuff coming up now would have long implications. Well, word yesterday (still new moon) from the Housing Battle Ground and it is not pretty.
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.
The report from the Mortgage Bankers Association also found that 14 percent
of homeowners with a mortgage were either behind on payments or in foreclosure
at the end of September. It was a record-high figure for the ninth straight
quarter.
The data suggest the housing market and the broader recovery will
remain under pressure from the surge in home-loan
defaults, especially as unemployment keeps rising. Lost jobs are the main reason
homeowners are falling behind on their mortgages.
The effects of this will be long reaching. I know, "No, shit, Sherlock."
