Here is the fright-thought of the day. It appears the contagion of strategic default is now spreading up the income ladder. It appears those with jumbo loans, thought to be fairly immune from the ravages of the Great Recession, are more and more rethinking their committment to paying that big mortgage every month.

This has some ugly ramifications when paired with the decline in demand for larger homes. The latter is the effect of Boomers downsizing and hitting retirement. There could be some real bargains ahead in the more expensive home arena.

Regards,

Jim