I agree- housing was going to roll over because of the demographics and the downturn has been exponentially impacted by the gross overbuilding and mortgage leverage.Housing is in deep trouble until 2013 at best no matter wahat happens to mortgage rates
The S & P was equal to 60% of US GDP in 1996 before this stock market madness started. It is now 88% of GDP. We could drop alot further before this market is a "value". I still see too much bullishness. The financials and Realestate shares are up BIG time in early pre-trade today on the US takeover of FNMA. This is NOT good news ! FNMA was $68 in the last 52 weeks and is now ZERO. We are in a sH$D storm. This is not good news.
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