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Have really flattened out in the last year. and while it is true that most economists expect a small dip from here largely as a consequence of the ending of the tax credit, the data doesn't show that at this particular stage. in home prices stay stable, then i think we will skirt the worst of the housing problem. but right under this current price level, maybe 5% to 8% below is a very large block of mortgages which are under water so to speak or could be under water. and that would induce a major increase in foreclosures. foreclosures would feed on the weakness in prices and it would create a ...

Last year. and while it is true that most economists expect a small dip from here largely as a consequence of the ending of the tax credit, the data doesn't show that at this particular stage. in home prices stay stable, then i think we will skirt the worst of the housing problem. but right under this current price level, maybe 5% to 8% below is a very large block of mortgages which are under water so to speak or could be under water. and that would induce a major increase in foreclosures. foreclosures would feed on the weakness in prices and it would create a problem so that it is touch and g...