Mortgage Blog

I got the following from my favoriate National Mortgage News Column Writer Paul Muolo:

I have horrible news for all of you: the housing industry
is about to fall off the cliff again. How do I know?
Because CNBC's stock picker James Cramer wrote a column
this past week entitled "Housing Is Back, Despite Media's
Worries."

As you well know whatever Mr. Cramer thinks/suggests
the opposite happens. Who knows, maybe he's right this
time. But what really drives housing? Answer: Employment.

This past week a University of Michigan report said U.S.
consumer confidence fell to its lowest in four months
in August on worries of - you guessed it - high unemployment
and dismal personal finances.