The Rocky Mountain News was also reporting on Montgomery’s visit to Denver and some of the statistics are startling. For example, foreclosures are up 30% in one year! Here’s another one:

In the late 1980s, FHA-insured loans accounted for about 65 percent of all the mortgages in the Denver area, said Mike Rosser of the Colorado State Housing Board, but now they account for less than 5 percent.

Ok, anything that can steal away 60% of the market share in that amount of time (READ: exotic subprime loans) has got to be too good to be true.

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