We are in the extended age of bailouts. The Fed cut rates todat by .5%, and the Congress is doing it's own bailout of homeowners who were seduced by the low teaser rates. Call it Indiana Jones to the rescue of the stupids and the greedy. Yes, there is predatory lending that should not go unpunished, and the American dream of owning a home is important to the psyche of our country.  It is just that giving 100% loans to unqualified people now sounds a bit silly. Am I unhappy about the bailout? Of course not. The real problem is that like the age of greed that brought on the savings and loan bailout, the baby would get thrown out with the bathwater if the Feds didn't go the extra mile. Hopefully, this will give us the time to put the housing industry on solid footing, and sanity can return to the market. I believe that the investment shark feeding frenzy has gone away, and due diligence is back in the vogue. I also think that stable markets like Oklahoma and Texas will jump in value in the 4th quarter. I was getting concerned that although our appreciation would still be in the black, the mortgage crisis would drag it back down. Now, we have a chance to get back to double digit appreciation by the first quarter of 2008. We are going to Los Angeles for the October 13th meeting with great values, pre-leased units at the East Village Project, and an agreement with the Chattel Pros to have the builders pay for the appraisal that in the first year will give you an $89 per month savings on a $175K home. I am bullish on Oklahoma!