No company is going to be allowed to go bankrupt if it can at all be helped (by the gov't) because that would trigger CDSs.
Yeah, hence 5 years vs 13. We did get to >5 times income, Liar/Ninja loans, and 125% mortgages though.
No that's not even the case. I'm sick of reading his stupid posts. His opinion doesn't matter. I shorted housing several times (some profitable and some not) thinking they'd do the same......then I realized financially they're not in that bad of shape yet. It's funny because TOL is probably the better out of the group too. That's the only one he mentions.