Depends on which mortgages. In 2008 the trigger was residential real estate. This time commercial real estate is the unhealthy sector.
But you are right that we are not likely to see wave after wave of residential mortgage defaults.
Unfortunately, the financial markets have been floating on magic monopoly money courtesy of the Fed for so long that even a modest decline in housing will burst the asset bubbles that are Wall Street today.
Depends on which mortgages. In 2008 the trigger was residential real estate. This time commercial real estate is the unhealthy sector.
But you are right that we are not likely to see wave after wave of residential mortgage defaults.
Unfortunately, the financial markets have been floating on magic monopoly money courtesy of the Fed for so long that even a modest decline in housing will burst the asset bubbles that are Wall Street today.