Be Advised

Financials: No Sign Of Let Up From Subprime [Housing Tracker]

I am not so sure. I have been trying to find an entry level condo in southern California. Most of the inventory is bank owned. They are not listed for pennies on the dollar as some predicted. Most of the available homes have multiple offers pending and many are now selling for for more than the list price.

A clear bottom in the housing correction would do a lot to remove the fear of investing in mortgage bonds, which could lower rates, which could bolster the market, which could prevent more homeowners from going upside down, which could stem the tide of foreclosures, which could help the keep the subprime mess from spreading to conventional loans. That would be good wouldn't it?