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December 18, 2008



Sure the housing BUBBLE was not good in terms of housing affordability, but the truly vile thing about it was Countrywide, subprime, etc, funky doubling mortgage payments and whatnot screwing with the system.

Speculators are pretty burned. Not a lot of people moving on up.

Think they'll try again?

The refi sounds good to me. mmmm


You are right. Housing prices are tied directly to interest rates because buyers only look at the payment they can afford.

I survived the bust in Houston in the 1980's. It's tough for a couple years but things start to get better eventually. It will take a while but the excess housing inventory will get worked off.

Housing needs to return to being based on local wages and affordability instead of financing gimmicks that drive up prices. Buyers need to have equity going in again. We need a return to the good old days in housing.

Buck Naked Politics


You make some good points. I read some months ago that a Countrywide exec even pressured Fannie Mae's CEO to invest in then-highly-questionable mortgage-backed securities.

I certainly would love to see some clawing back of executive compensation paid out during the bubble.

Buck Naked Politics

HI Pub,

Thanks! I'm no expert, but it does seem logical (prices, interest rates, and financing gimmicks).

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