
The Housing Market is melting down fast- and it's August - when things have tended to start falling part - it was that way before 9/11 and I have to wonder how much of what your seeing in this Youtube Clip below is the result of incompetence vs just letting things take their own course.
Events move so quickly that, from what it sounds like, Mad Money host Jim Cramer totally loses it and I get the feeling of events spiraling out of control.
It's also hard to know what the right response really should be in situations like this (the comments to the YouTube clip are fairly divided, it depends more on what side of this your on) - but it sounds like anything to do with housing is going to be affected and a lot of people who have these "sub-prime" mortgages are going to lost their homes, according to what I'm hearing.
But what's more weird is how much of this debt spills into other businesses, other deals. When I look at the government's role in this - it seems to be, more or less, let everything fall apart - do nothing. If anything could be mishandled, or let go, or lax, it is -just let the markets correct themselves. But that doesn't seem like the right response








Good info…Credit rates are rising like crazy because of Americans over-use of credit cards. I recommend this report on home sales that is useful…
http://www.dailyreckoning.com/rpt/HousingReport.html
-Cheers!
Posted by: Dan | August 6, 2007 1:22 PM | Permalink to Comment