Friday, October 8, 2010

"Owning with no equity is renting with no mobility"

Dr. Housing Bubble Looks With A Critical Eye At The Still Staggering Housing Market

I am an avid reader of Zero Hedge, a website that offers keen insight and raw opinion on world economies, financial markets, banking systems and government policies.

They also keep a close eye on the the housing market in the United States, and present a picture of a house of cards that took a severe hit, knocking the top few tiers off, and helping to create global financial crisis and hardship. Many pundits (let's say mainstream media) as well as many in government position the U.S. today as wounded badly but in recovery, albeit slow recovery.

Dr. Housing Bubble looks at the recent release of data by the federal government that presents a picture of the housing market, mortgage market, underwater mortgages and sheer dollar amount of these mortgages. He then develops his credible scenario as to why the remaining levels of the house of cards are still in jeopardy. And of how some states face much larger hurdles than others.

Read the full, and less than comforting, analysis at Zero Hedge.


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