Five Star Finance

Business Details

The mortgage industry has always been cyclical. It may not have exactly corresponded to the biblical seven fat years and seven lean years: for 15 years recently it was more like three up years followed by two down ones. But there have been three very lean years indeed in 2007, 2008 and 2009. Let's hope there are not four more to come, although 2010 looks more like a lean year than a fat year. (And the lesson of the parable, to save during the fat years, still seems a completely unsellable concept to American industry.)