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August 24th, 2007 11:14 AM by David W. Welch
I think the $2 Billion says a lot about strength of Countrywide. I don't think Bank of America would make that kind of investment if they were concerned. Also, this was something that has been in the works for a few weeks now, not a knee-jerk reaction to market conditions. It looks like the credit crunch will be a fairly short term situation that will hopefully be resolve before the end of the year.
I've said it before, and I will say it again buy now if you have the credit and can prove your income. Many people are waiting for the new year? Some are waiting for the tax amendment vote - it is hard to imagine a tax cut not getting passed. There is a pervading sense of pent up demand to purchase homes, and continuing job growth here in Orlando.