Thursday, May 24, 2012


Never before in history has a chart on housing looked like this. Please consider this chart in reference to fact we have had LOWEST mortgage rates in history over this same period.

The current 0% rates and under 4% 30 year mortgage rates have not fixed the problem, but it has screwed the FIXED INCOME market and those who were depending on that income.

I suspect for these and other obvious reasons the Bear Market that began in 2007 and was interupted in 2009 has not completed and finished its work. FED and Gov't policy has done nothing but ADD to the imbalances and has NOT induced investment that creates jobs, but has only induced SPECULATION which destroys jobs...HP laying off more workers.....


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