Host,
I do no claim to be an expert and I do not have an advance degree in economics. I just follow major economic trends and I try to study and understand historical business cycles.
I do not support tax payer subsidized bail-outs of any industry or company.
Just for the record on a national level housing prices have not dropped that much.
Quote:
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The national median existing-home price2 for all housing types was $210,200 in November, down 3.3 percent from November 2006 when the median was $217,300, but there remains a downward drag on the national median as the mix of closed sales has shifted away from expensive markets.
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http://online.wsj.com/public/resourc...s/bbexhome.htm