Housing stability is being propped up by hidden bailouts and toxic FHA debt, delinquencies quietly buried under “modifications.”
They keep telling you the housing market is “stable,” but stability does not require this much scaffolding, this much manipulation, this much concealment, and the louder the reassurances become, the more you should question what exactly is being hidden under the floorboards. Nearly 70% of FHA borrowers now carry debt to income ratios that would …