Credit crisis will end when housing prices stabilize

08/13/2008 | Wall Street Journal, The

A warning on losses from JPMorgan Chase and a downgrade of Goldman Sachs Group are reminders to investors that the credit markets remain unsettled and will stay that way until the price of homes stabilizes. Data indicate that it will be awhile before that happens. Wishful thinking on the part of banks that their mortgage-backed assets will emerge unscathed is likely keeping the issue from resolving itself.

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