RE:All US indicators were down yesterday except US dollarLet me interject some thoughts from today’s issue of The Bonner-Denning Letter.
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Quote:
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Over 30% of homeowners – or 4.3 million Americans – missed their mortgage payment in June, according to mortgage data company Black Knight.
. . .
. . . the [real] numbers are almost certainly worse than the Black Knight data suggest.
9.1 million borrowers told the U.S. Census Bureau they had not made the last month’s mortgage payment due to a pandemic-related job loss.
What’s worse,
10.7 million people said they had “no confidence” they would make NEXT month’s payment
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End Quote.
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RJ