This is a pretty nerdy post, but I came across some really interesting mortgage stats & trends today. The punch line is we are not out of it yet. The defaults and foreclosures appear to be shifting up market, as in middle & upper middle class are now starting to have problems staying in their houses. The source is Mr. Mortgage, who writes an incredibly insightful blog on, you guessed it, the mortgage market.
This chart shows the situation pretty clearly. If you are into this kind of stuff, definitely read the entire post. The chart shows defaults on loans over $750k and they appear to be accelerating.
For the record, this chart scared the bee-jeezus out of me.