Credit to John Palson

John palson was asked about the us. Housing market, and he said, this time is different. The underlying quality of the mortgages to day is far superior. We're not at risk of a collapse in the financial system like we were before. Yes, true, housing may be alittle frothy. But so i made thi chart looking at the amount of mortgage originations in dollars as a percent of the total pie for people that have credit scores below six 60. In two thousand seven, that peaked at 26%. It's five % to day. Much better.