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To: Elroy who wrote (47709)	1/16/2009 1:06:01 PM
From: Lizzie Tudor	Read Replies (12) \| Respond to of 57684

agreed I was just trying to say that the US housing market isn't really collapsing in absolute terms, only the banks are collapsing. I just think there is a lot of press that implies that the housing market is so f'd there is nothing we can do. In fact, I read that if the govt decided to offer every current homeowner 4.5% mortgages irrespective of whether they were underwater or had the new debt to equity requirements satisfied (which are much more stringent now than they were)- it would only cost $200 billion total. IOW the significance of the housing problem is miniscule compared to these BS banks.