Here it comes – and it ain’t pretty

At last, some truth.

This link from Bloomberg News 31 July 2018

This is but the tip of the iceberg.

Direct reports to me from Agents and Lenders in the marketplace are painting a far worse picture than that illustrated even by Bloomberg.

There are large areas where mortgage stress has been festering for the last couple of years.  Now we have a rising interest rate scenario combined with a rapidly falling sentiment.  Not a great combination.

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