Over at Econbrowser we find an interesting article about “crony capitalism” and a potential bailout for the bankers.  It underscores some key points that highlight why I remain extremely cautious on the mortgage and real estate markets.  The tensions inherent in the article continue to exist between mortgage lenders, investment banks, lenders, retail mortgage servicers, pension funds, real estate agents, homeowners, et al will continue to stymie this market throughout 2008.  I am currently pegging my return to the real estate investment world in late 2008 at the earliest.  If you are feeling antsy, please take heed and stay away from hard hit geographic areas (don’t try to call the bottom) and step into areas that saw less of a ‘boom’ in prices the last 10 years.