Just a few things I thought worth perusing.
You may have seen several articles referencing the Deutsche Bank report saying 48% of homes will be in negative equity situation by 2011. The following blog has links to the full 19 page report. I thought they didn't give enough credence to loan modification pressure but other than that they were very conservative in their methodology.
Represenative Richardsons antics have caused her to be investigated by the House ethics panel. I can only hope the voters toss her out the next chance they get.
Finally, Matt Padilla posted an excellent chart that shows what is going on in this market very well. Huge percentage of owners 90+ days behind payments and it is increasing. Number of owners with NOD and/or NTS filed and the numbers are increasing. Yet the number of homes servicers are taking back is decreasing.... Clearly showing the political pressure the servicers are under to not foreclose. Anybody tells you the banks aren't giving borrowers enough breaks.. show them that chart.