by: Ockham Research November 12, 2008 | about stocks: Ockham Research About this author: The housing crisis is where the financial meltdown started and some analysts speculate housing is where the recovery must begin. Implosion of the subprime and “Alt A” mortgage markets (loans made to lower-quality borrowers) began the painful decline in property values that continues as many regions of the country have a gross oversupply of housing inventory. Until this imbalance in the supply and demand equation is brought down to more reasonable levels, expect continued downward pressure on residential real estate values and continued pain for the overall economy. The crisis that started in housing has rippled out into nearly every facet of our economy—and that of the world as a global recession appears underway. It should come as a...
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