Housing Market: Snow Jobbed

The death watch that made Terri Schiavo look like a sprinter has come to an end, as John Snow meekly submits to the headsman's axe:

Snow, the former head of railroad giant CSX Corp. who has a Ph.D. in economics, has been Treasury secretary since February 2003. His departure has been rumored for more than a year. Bush praised Snow for showing "strong leadership."

Much like Mike Brown and the heckuva job he did, of course. What's interesting is that although Snow's replacement, Henry Paulson, is a multimillionaire and longtime Bush ally, he's also a proponent of certain inconvenient truths about the environment. Wonder how THIS confirmation battle's gonna go....

Back to Snow. There's a eulogy from Reuters about Snow's tireless salesmanship in the effort to convince us that things were really okay with the economy, as long as we used houses like ATMs and bought property with no-doc loans and no financing. How did he do?

Not so hot:

There are 122 million housing units in this country. In Gallup polling data from last month, 11 percent of Americans were "very worried" about being able to pay their rent, mortgage or other housing costs — that number has been stable in annual surveys each April since 2001. However, 27 percent said they were very or moderately worried; the previous range had been 22 to 25 percent.

Hey, if they didn't buy it in China, there's no way they were gonna buy it here. :) Good riddance to bad rubbish.

Posted at May 30, 2006 01:56 PM

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The death watch that made Terri Schiavo look like a sprinter has come to an end, as John Snow meekly submits to the headsman's axe: Snow, the former head of railroad giant CSX Corp. who has a Ph.D. in economics, has been Treasury secretary since February 2003. His departure has been rumored for more than a year. Bush praised Snow for showing "strong leadership." Much like Mike Brown and the heckuva job he did, of course. What's interesting is that although Snow's replacement, Henry Paulson, is a multimillionaire and longtime Bush ally, he's also a proponent of certain inconvenient truths about the environment. Wonder how THIS confirmation battle's gonna go.... Back to Snow. There's a eulogy from Reuters about Snow's tireless salesmanship in the effort to convince us that things were really okay with the economy, as long as we used houses like ATMs and bought property with no-doc loans and no financing. How did he do? Not so hot: There are 122 million housing units in this country. In Gallup polling data from last month, 11 percent of Americans were "very worried" about being able to pay their rent, mortgage or other housing costs — that number has been stable in annual surveys each April since 2001. However, 27 percent said they were very or moderately worried; the previous range had been 22 to 25 percent. Hey, if they didn't buy it in China, there's no way they were gonna buy it here. :) Good riddance to bad rubbish.