Up and down the economic value chain of the housing market there has been pain recently. I am clearly a housing bear, and having friends working on wall street, specifically in CDOs, gives me a little insight into how they are viewing paper these days.
Here is a must watch video if you want to understand why the worst is probably still to come with respect to the housing market. Remember, when wall street loses it's appetite for mortgage backed securities there will be a huge trickle down effect to consumers:
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