David White: China announced they will tighten credit in order to stem the rapidly rising RE prices in large cities. They know USD carry trade is ending.
Wed, Dec 16, 2009
David White: Extension of home buyers tax credit also expiring. Mortgage defaults likely to go up. Trouble for RE market.
Wed, Dec 16, 2009
David White: Gross says when you pull back $1.5T, it will tend to effect the markets. Mortgage rates will increase. Sales down. Bad spring for RE.