The National Association of Realtors (NAR) Chief Economist, Lawrence Yun, was recently listed by USA Today as one of the experts to listen to when it comes to the housing market. After his most recent ridiculous statements after the largest slide in home prices since the Great Depression, I beg to differ.

Mortgage Insurance giants PMI, MGIC, and Radian, are on the verge of collapse as claims surge. Mortgage insurance companies stock losses are the possible trigger to another stock market crash.

Mortgage Insurance Company Demise Discussed

New York Governor and former consumer champion, Eliot Spitzer discuss the demise of the big mortgage and bond insurance companies on Jim Cramer’s Mad Money last Friday,

On Friday, the government unemployment report proves a housing crisis created recession is upon us. A housing crisis triggered recession, sadly, I’ve been predicting for years.

This new unemployment report showed Americans out of work for at least six months (called long-term unemployed) increasing - attaining levels more indicative of recession than a “soft landing” or economic “slow down”.

With the Fed jumping in on Friday to calm the markets it would be easy to be fooled into thinking the worst of this financial irresponsibility is over…it’s only just begun!