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Thursday, December 6, 2007

More Housing Price Drops, even Google falling

December 5

PIMCO's Bill Gross is still one of the top bond fund managers in the U.S., if not the world. Homeowners by the hundreds of thousands, to be sure, but also those that created, packaged, insured, distributed, and ultimately bought what should have been labeled "junk mortgages," but which by a masterstroke of marketing genius were given a more respectable imprimatur. Defaults are rising, the dollar’s sinking, and good Lord—even Google’s stock price is going down. Something must really be wrong here.

Buy A New Home Today: Prices Are Still Falling

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