1 in 7 mortgages behind

Job losses caused more Americans to fall behind on their mortgage payments in the third quarter, leading to a record 14.41% of loans with at least one payment past due, the Mortgage Bankers Association's chief economist said on Thursday.

Risk and Time (John Norstad)

A very well written article on the fallacy of time diversification (i.e., the claim often made by financial planners that risk decreases over a longer time horizon). In fact, risk INCREASES. Everyone should read this.

http://homepage.mac.com/j.norstad/finance/risk-and-time.html#fallacy