A major downward correction in housing prices is not "doom and gloom". If it means that middle class incomes will again support housing purchases without having to take on toxic debt, it's a Good Thing.
A return to prudent lending standards (at least 15% down and solid documentation of income/debt ratio) would be an even Better Thing.
19 posted on 09/01/2006 7:23:17 AM PDT by Comico Atómico
(Which major religion endorses lying to unbelievers?)