Charles Biederman, Trimtabs, said that the 10year treasury yield has gone up so much that refinancings are not happening. Real Estate will be a drain on the economy this quarter. That sounds BAD for us longs.
housing is getting back to being regional (you cant lump the housing market in one basket).....and not national. I expect a strong fourth quarter. The company is increasing its staff and the President of the company has already stated the company intends on significantly increase production. Its hard for me to bet against IMH.
P.S. - If the "Powers that be" actually want to turn around this economy, housing will only go up from here, because majority of Americans wealth is tied to it.