Why use the word "correction" - Reader comments at The New York Sun

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Subprime Debacle

Submitted by David Shulman, Oct 26, 2007 15:29

Why use the misnomer "correction" to describe the housing bear market. Housing is in a multi-year bear market that will reverse much of the gains achieved in the first five years of the decade. When the S&L's collapse during 1988-91, the word "correction" was not used. It was debacled then and it is a debacle now. Correction is much too mild a word to use now.

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Other reader comments on this article

Comment	By	Date
I found this article balanced. The author just reported the information and allowed the reader to come to his or... [MORE]	Jeffre Powell, Certified Mortgage Planner	Nov 11, 2007 11:00
Congress is considering legislation to hold the Lender liable for loans made to borrowers that fail. The legislation is saying... [MORE]	Prof. Samuel D. Bornstein	Oct 27, 2007 22:31
Reckless lending puts financial system at peril. The same thing happened. We have market watch dog, Bank Examiners and Auditors.... [MORE]	prasad	Oct 27, 2007 04:16
Congress is considering legislatiion to hold the Lender liable for loans made to borrowers that fail. The legislation is saying... [MORE]	Prof. Samuel D. Bormstein	Oct 26, 2007 22:58
Why use the misnomer "correction" to describe the housing bear market. Housing is in a multi-year bear market that will...	David Shulman	Oct 26, 2007 15:29
Pupils of the 7th and 8th Grades of America's Public School Systems should become proficient in the financial operation of... [MORE]	Claude Bogardus	Oct 26, 2007 10:58
Credit bureaus require individuals to obtain long-term debt like mortgages and lines of credit to improve their credit scores so... [MORE]	Jim	Oct 26, 2007 10:16
Your suggestion that mortgage originators be capitalized to hold a percentage of their loans in portfolio is excellent. World Savings... [MORE]	Laurent Baptiste	Oct 26, 2007 08:16
Boo hoo. Bad investments made by greedy businessmen on mortgages entered into by uninformed buyers who weren't qualified to begin... [MORE]	Steven Gruber	Oct 26, 2007 07:21