26 December 2008 - 26 February 2009 The government’s policy [is creating] a short-term boom in housing. Like all artificially-created bubbles, the boom in housing prices cannot last forever. When housing prices fall, homeowners will experience difficulty as their equity is wiped out. Furthermore, the holders of the mortgage debt will also have a loss. These losses will be … [Read more...] about Leithner Letter Nos. 108-110
Chris Leithner