These charts are not up to date this minute but you get the point. Government spent XXX billions of dollars to get the housing market back on it's feet and here is the immediate rusults after the insentives are gone. More people who should not own housing, own housing. I wonder how many will default. They brought forward sales that would have happened any way. Money well spent there on behalf of the US people. All this as we inch closer to the pile of ALT-A's and alike resets for the next year and a half. May be time to look at buying a winter property in the US early 2013 at best if you want to hit the bottom price is my guess at this time.

PM's and PM stocks are more than likely going to have some real bad days for no other reason that the baby will some times get thrown out with the bath water. Don't worry though. The baby will get picked up towelled off and loved again...

Deno G.