Title: Upside Down Housing
Tags: housing stocks economy
Blog Entry: Among all of the happy talk in the media, all the green shoots and the ever rising stock market, it is nice to see Deutsche Bank come out with such a happy forecast. Gee, only about half of the mortgages in the U.S. will be upside down by 2011. That is about double what the current rate is for you sports fans keeping score at home. Really, check it out . We couldn't make this up. I guess that means since bad news is good news these days that we can expect the stock market to surge by a couple of hundred points tomorrow. I mean how could it not? With unemployment going well over 10% and the housing market continuing to spiral down the toilet it has the makings of a giant rallly. Mix in a little cash for clunkers (morons) an $8000 tax credit for first time home buyers (that's sustainable) a pinch of Goldman Sachs program trading pixie dust and I really think I am going all in first thing in the morning!
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