Decius wrote:

Unemployed people don’t have any money, so they don’t pay mortgages. It’s as simple as that.

http://www.nytimes.com/2009/11/20/business/20limits.html

Barney Frank is looking to extend the FHA limit by $100k and make it permanent.

Insanity.

RE: Ivy Zelman: “Home prices are going back down” « naked capitalism