The Quick Snap Back To 2002

All around me, I hear screams of panic. Some with merit, most without. Yes, the mortgage market turned sour in a very big hurry, but credit standards are still looser than they've been historically and there are plenty of homes for borrowers-in-need (pardon the pun). The products getting flushed right now are the high risk loans that would never have had a prayer six or seven years ago. Check out the two charts above (grâce à Kit Mueller). The top...