Thank you to Justin who sent me this Cramer clip and asked the following question: Cramer:  "We need to make housing affordable…we have to keep people in the homes if we’re ever going to stop house price depreciation".   Justin:  Uhh.. isn’t the best way to MAKE housing affordable is to let it depreciate?   Justin also asked me, "Cramer says even if you’re not in trouble, this bailout is good for you because it helps sustain your housing price… umm I don’t own a home… how is sustaining an inflated housing price bubble good for ME?"

Housing Doom is pleased to present the first installment of our unauthorized annotated transcript of the American Enterprise Institute’s October 30, 2008 seminar "The Deflating Mortgage and Housing Bubble, Part IV: Where Is the Bottom?" [1] This is the introduction by session moderator Alex Pollock. It uses a short slide deck.[2] The event site has numerous resources, including both an audio and a video recording of the 2 hour proceedings. There is as yet no official transcript. Highlights "… this panel has previously brought you notable insights into, and accurate pessimistic forecasts of the problems of what happens when you…
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Another day, another set of rules to play by in the mortgage bonds market: Nov. 12 (Bloomberg) — Residential and commercial-mortgage backed bonds tumbled after Treasury Secretary Henry Paulson said the government no longer plans to buy devalued mortgage assets, credit-default swap indexes suggest. All 24 of the ABX indexes tied to subprime mortgage bonds fell to new lows, according to Markit Group Ltd. One of them, known as ABX-HE-PENAAA 07-2 linked to AAA rated bonds created in the first half of 2007, dropped 8.4 percent to 41.83. The level suggests the bonds might fetch about 42 cents for each…
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Yep- the market is rough all over-even in Seattle: