Credit Cornerstone Weekly Credit Trends and Data Intelligence
Possible double dip in housing in some U.S. regions
July 1, 2010

In Q1 2010, the 60-plus mortgage delinquency balances for Las Vegas, Nev. (20.5 percent); Los Angeles, Calif. (12.6 percent); and Miami, Fla. (20.1 percent) were substantially higher compared with the overall U.S. rate of 8.8 percent. These rates represent an increase of more than 200 percent for each city, compared with mortgage delinquency rates for Q1 2008, and reinforce the theory that a double dip in housing may occur in some U.S. regions. This possibility underscores the need for lenders to create specialized treatment strategies in micromarkets to minimize losses when determining how to handle late-stage mortgage delinquencies.

Source: Experian-Oliver Wyman Market Intelligence Reports

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June 2010
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