Current Delinquency Situation
“It is so large a problem in housing today. We certainly hope there’s nothing like this ever again. We have always had a work-out department, an REO department. It is just that prime delinquency is ten times what you would have expected, ten times more than you would expect in almost any environment…It will never be like this again, probably never be this big again, in our lifetime.”
– JP Morgan CEO Jamie Dimon on the current delinquency rates, Oct 14, 2009
We are currently at a very different place in real estate than we have been in my 25 years in the business. It is a time of crisis which also means a time of tremendous opportunity. There is much confusion and people are looking for someone to help them through these difficult times. A strong, ethical agent who keeps himself/herself current on what really matters today is invaluable. Be that agent!! Help as many as you can.