Great Report On The Housing Crisis

I found this long and interesting report on the housing crisis which recaps a lot of info we know and also suggests it's likely far from over. Check out the rising default rates in prime and jumbo loans as well as the mega disaster-- called Alt-A which will create huge losses and powerful downward pressure on housing in places like California.

A big unknown is how long the recent surge in mortgage rates will last and what effect this might have on a market that seems to need these absurdly low rates.

For the most part, the Fed's role in causing the bubble is not discussed.

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