Mortgage delinquencies may have peaked: Equifax

Here is a quote from an article on Reuters today.

"There is not a mortgage in the U.S. being underwritten without verification of income and employment," Adams said.

While this confirms all of our worst fears that inventory will simply sit there, it is actually good news. Here is why.

Homes that sell today are being sold to people who can afford them, which means, that any drive up in price or any stabilization of price in the market is based on a solid foundation. This will give people confidence to go ahead an make that purchase without having to fear another bubble created by artificial wealth.

Here is the full article:
http://www.reuters.com/article/newsOne/idUSN1139585720090611