All President Bush is doing is trying to delay the inevitable until the ball is passed over to someone else. There is no way the plan can solve the problem. There will be a lot of upset homeowners that were responsible and went ahead and changed to a fixed rate. The holders of these mortgages will be happy, the hedge funds will be happy, the taxpayer, as usual gets ...........
I am happy that I was able to sell my home this past June at a reasonable price. I am now renting at an unbelieveably low price.
I also think a depression is coming. I would probably give it more like 60-40 it will happen. I just do not know when.