Extremely well thought thru introspective on current and future in American housing....very informative.
Plus, that bank is only able to function courtesy of rewriting accounting rules and trillions of dollars in emergency loans. For over a generation the loans that were made were conservative, required a large down payment, and came at a time when household incomes were rising. We can argue the merits of government-banking intervention (i.e., the Fed with QE3, mortgage interest deduction, etc) yet the market is now fully addicted on all these external factors. A Pandora’s Box has been opened and now every action that is taken is more extreme and more permanent. Yet the housing market of today...
http://www.wealthwire.com/news/economy/3983
Extremely well thought thru introspective on current and future in American housing....very informative.
#housing