When Big Orange notices you, you've arrived.  (I do point out that it was a mention in a personal diary and not the main site, but still, expect a bump in traffic.)  You might also want to look back through the entries made by "Bonddad," as he seems pretty sharp regarding economics in general, and he often covers the housing market:

http://bonddad.blogspot.com...

You are correct - not the main site. I am relegated to the kiddie table. LOL.

Thanks for the link!

From your cite Mattloch:

As much as $800 billion of adjustable-rate mortgages will reset to higher payments this year, and 1 of 11 home loans is both adjustable and sub-prime, according to the Mortgage Bankers Assn.

"There could be a good chunk of borrowers with nowhere to go to get loans," said Gast, who follows the industry for the Center for Financial Research and Analysis, a Rockville, Md., forensic accounting and due diligence firm with mutual funds, hedge funds and insurers as clients.

"It means a lot of people are going to lose their homes."

The Fed has been counting on people with ARMS refinancing their homes to prevent a meltdown from the housing bubble they themselves created. Looks like the mortgage companies won't be around to bail them out.

Homes for sale in my area (Oildale) have been on the market for months and now display signs that say "price dropped", "price slashed" and "price dropped to sell".

Owners are practically begging people to buy.