In October of 2008 was the Realtors, was your Buyers Agent telling you to Buy?

Banks and Housing in Crisis (News Tidbit in October of 2008)

"A California house under foreclosure. (AP)

“Contagion” is the hot and ugly word of the week. A finance meltdown hitting markets around the world now, and hitting them hard.

London, Frankfurt, Paris, Brazil, Argentina – Iceland! And reaching into businesses from car showrooms to vacation planners.

But the tap root of this crisis still goes down to the American home and housing market, and the fancy finance that sent home prices and lending practices roaring off the map. Fixing that problem reaches deep into national policy and individual lives.

This hour, On Point: American housing and finance. What went wrong, and how to fix it.
You can join the conversation. What new rules should be in place? Should we make it more difficult to buy a home? Should we stop banks from playing with mortgage securities?

Should we put up big firewalls on Wall Street to head off future disasters? Tell us what you think."

-Tom Ashbrook