Housing mess

This is quite a presentation on the housing debacle...

http://www.valueinvestingcongress.com/pdf/T2Partners_mortgages_bond.pdf

A sample of some of the slides...

Subprime lending skyrocketed...

From 1975 to 2000 the average real (inflation adjusted) rise in home prices was 1.4% per year. But from 2000 to 2005 it was 7.6% per year...

In summary...