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Monday, July 30, 2007

Cramer: Housing "Total Crisis"

by Calculated Risk on 7/30/2007 07:06:00 PM

See video at HousingDoom.

Cramer is exaggerating the problems in housing. As an example, it is extremely unlikely that 100% of 2/28s will default. But I agree with him on the Inland Empire; I've been arguing that California's Inland Empire was going to get crushed for some time.