Stupid quote for the day comes from an article…
posted by Bill Arnett @ 12:24 PM Permalink …in the BBC Business Section. It is a sidebar to the main text discussing the collapse of the American housing market:"The price decline we have already experienced is helping to restore the housing market towards equilibrium." Richard Dekaser, National City CorporationSure. If houses are revalued to their true worth even the destitute shall have homes.
This statement is made based upon:
Pending home sales saw no change in January, a small glimmer of stability.Yea! Things were no worse in January than in December! That's REAL progress!
A good thing to, for after all, a wise King forbids either the rich or the poor from sleeping under bridges.
Labels: Economy, foreclosures, Housing, mortgage crisis, snark
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