Good Morning...Here is today's market update from the Think Big Work Small Guys. Today the boys focus on the loss of our Collective Household Equity which has dropped from 2007 to 2009, from 13.5 trilion to 5.6 trillion; a loss of 7.9 trillion, and the lack of reporting on the subject. Some of the factors in this drop have been: Bad Appraisals, Underwriting Standards, and Freddie Mac accounting for 75% of funded loans. There needs to be a meaningful discussion on how to bring our Collective Household Equity back up. Their opinion us that the Frank Dodd Bill is not the answer.
Disclaimer: If you prefer reading your news over a cup of coffee in a relaxed atmosphere or your family's sense of humor gene skipped a generation, don't watch the video; these guys talk fast and are high energy.
Have a Great Day
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