Napa Valley Valuation BLOG

This is one of the more interesting articles that I have found recently highlighting the extent of the ongoing bailout of mortgages. It summarizes very well the bailout in numbers and percentages of the whole market. See Washington Post Article here

“The outlay has already reached about $1 trillion over the past year and is rising. During that time, the government has pumped more money into the mortgage market than has been spent on Medicare or Social Security or the defense budget, more even than Washington has paid to bail out banks and other struggling companies.”

"Absent government intervention, there would be no lending," said Nicolas P. Retsinas, director of Harvard University's center for housing studies.”

To be continued…