I am on NPR radio discussing the Fannie/Freddie bailout, as well as the Housing market and economy.
The bailout does not save the Housing market, which remains distressed — but it stops an immediate further damage from the mortgage giants to the real estate market.
Housing still has 4 problems:
1. There is still way too much inventory for sale; (not counting the "Shadow Inventory")
2. Houses remain too expensive, by either Median Income to Median Home Price, or by Rental prices to purchase expenses;
3. Millions of home owners who cannot afford their homes have yet to short sell/walk away/foreclose;
4. The Economy is entering a recession;