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UPDATED: This is what it sounds like when bubbles pop – again

In Uncategorized on September 23, 2013 by Robert Burke

Presented Without Comment: Click here to read full article

“The Mortgage Bankers Association projects a decline in mortgage refinancing volume from $1.247 trillion in 2012 to $973 billion (22%) this year, and to plunge to $388 billion (60% further) in 2014 (69% peak to trough). The MBA expects total mortgage loan originations to decline from $1.750 trillion in 2012 to $1.592 trillion (9%) in 2013 and $1.091 trillion (31%) in 2014 (38% Peak to Trough).”

(percentages added)

That’s the definition of a bubble popping.

 

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