While I've been beating this dead housing horse for some time now, I would be quite shocked if the mortgage and financial market crisis was close to being "over." Unlike other asset bubbles, for a variety of reasons the housing bubble is going to unwind slowly. And while the financial assets related to the mortgage market can certainly (and perhaps have) see their bubble shrink much more quickly, it's quite probable that their story will also play out in slow motion.
WHEEEEEEEEEEEEEEEEEEEEEEE
