[DeaconBenjamin]

Sounds like he wants the recession. I guess that would pressure Congress into giving Freddie and Fannie what they want.

[Brilliant]

Is this the same Freddie Mac chief who committed accounting fraud?

[Nathan Zachary]

There isn’t a housing problem everywhere in the USA, just in parts of it where the greedy got too greedy.

A $99,000 house in Texas is still a $99,000 house. That same house was over $300,000 in California, and has now deflated back to $200,000 -still overpriced in my opinion- but what ever downward adjustments continue to happen in those over inflated regions isn’t going to cause a nation wide recession, no matter how hard these Marxist anti American economy moonbats “pray” for one.

All it’s going to do is cause a severe drop in sales for the “get rich quick on real estate” paid tv advertisers, all of which have seen their wealth in assets suddenly disappear, replaced by big payments with no way to dump their holdings.

[Moonman62]

Richard Syron, chief executive of the government-sponsored mortgage company, said the credit squeeze had left some parts of the US housing market “literally frozen”.

I was talking to some real estate people tonight. In some areas there are no buyers.

[BurbankKarl]

A recession can last 0 months.

This clown wants to buy higher priced mortgages.