Tom Lindmark

12 Observations on Residential Housing

Lynn,

Thanks for the support but as someone once said, "If nominated I won't run and if elected I won't serve." I can't remember who I just quoted so if you or anyone else knows, let me know.

12 Observations on Residential Housing

Wow! We're at the point of citing biblical references in order to assess blame. Guys and girls, there's enough blame to go around forever. From loan officers, to mortgage brokers, to mortgage companies, to banks, to investment banks, to asleep at the switch regulators, to politicians promoting homeownership, to corrupted insurers, to stupid, ought to know better investors they all were chasing an easy dollar. Let's quit trying to assess the blame and just let the markets work this one out. Yes, by that I mean shut down the fix it mentality in Congress and just let the chips fall. Then we can all get back to being productive.

12 Observations on Residential Housing

Three things:
1. A very good article
2. If you want to see the chart that several of you mentioned, I have a little video on my blog that includes it. Here is the link blog.metro-real-estate....
3. Having been on the financing end throughout the bubble, I can assure you that the level of fraud was astronomical. That's what makes it so hard to call the inning. It's impossible to look at numbers and draw conclusions since historical norms are probably meaningless.