There is much debate about why the stock market is being flooded with money. The residential property market is one of the beneficiaries of such psychological lifts. The timeline below is telling. What do you think we are in for over the next two years? This is an IQ test.
February 28, 2007 - Dow Jones @ 12,268
March 13th, 2007 - Henry Paulson: "the fallout in subprime mortgages is "going to be painful to some lenders, but it is largely contained"
March 28th, 2007 - Ben Bernanke: "At this juncture . . . the impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained"
March 30, 2007 - Dow Jones @ 12,354
April 20th, 2007 - Paulson: "I don't see (subprime mortgage market troubles) imposing a serious problem. I think it's going to be largely contained." , "All the signs I look at" show "the housing market is at or near the bottom"
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