>Apparently, they're bailing out Eurobanks who got burned by the US housing
>bust. Looks like the US housing debacle is beginning to inflict major
>economic pain.
>
Yes. And it's just the beginning. The higher interest rates haven't
actually kicked in yet.
I was talking to a realtor tonight -- while we were watching our daughters' ballet class -- this guy does business in one of the priciest neighborhoods of Oakland, and he told me that the it's already affecting the jumbo loan market (over $400K) because credit is very, very, very tight.
Joanna