Monday, September 29, 2008

Distress versus correction

This Marketwatch story says:

Critics also say the plan inadequately addressed job losses and a distressed housing market --problems that underlie current economic weakness.


The housing market was a bubble. No question in my mind. So why don't reporters say the housing market is being corrected? When stocks fall after a bubble, it's a correction. When housing prices plummet, it's "distress".

Congressmen: Do not, under any means, artificially prop up home values. Please.

1 comment:

Unknown said...

I agree - and I've even got one of those.