IMF: No Bottom in Sight for Housing 

It’s been roughly one year since the mortgage and financial market turmoil first began in the subprime market — and on Monday, a report from the International Monetary Fund suggested that we’re nowhere near out of the woods yet. “Credit quality across many loan classes has begun to deteriorate with declining house prices and slowing economic growth,” said the IMF’s latest Global Financial Stability Report Market Update. “Although banks have succeeded in raising additional capital, balance sheets are under renewed stress and bank equity prices have fallen sharply.”