This chart shows the total dollar value of non-traditional mortgages tracked by quarter since 2001. As you can see these types of mortgages, particularly Subprime and Alt-A mortgages, have all but disappeared in 2008. What is striking is the particular frenzy of such mortages being issued during the first half of 2007 before the bottom fell out. All in all, this represents the disappearance of what was as of 2006 nearly a trillion dollar annual market almost overnight.Yet another dramatic illustration of why home values are continuing to crash.
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