If you missed 60 Minutes Sunday, here’s a clip regarding the housing market.

It’s Called Quantitative Easing

I heard it in the headlines
It’s news all over town
We might be double dippin’
Green shoots have all turned brown.

It’s a balance sheet recession
With a housing overhang
But they’ve got a brand new program
And it will start you with a bang.

And it’s called, quantitative easing
They say results are always pleasing.
When liquidity all starts freezing
Just warm things up with quantitative easing.

I will say it straight and simple
It’s clear, just like a bell
There’s some long term bonds to buy
There’s some short term bonds to sell.

Don’t talk about the good times
Don’t ask me where they went
Just move your inflation target
On up to three point five per cent.

And it’s called, quantitative easing
This ain’t no joke, it ain’t no teasing
When the GDP starts wheezing
Treat with a shot of quantitative easing.

Good and magic things will happen
It might take a week or three
Unemployment plunging downward
Recovery shaped just like a V.

You’ll see Nobels at the Treasury
There’ll be rock stars at the Fed
It’ll take hair off of Krugman’s face
Put it on top of Ken Rogoff’s head.

And it’s called, quantitative easin’
This ain’t no scam, so don’t call no policeman
When the engine of commerce starts seizin’
Just add a quart or quantitative easin.’

Show no mercy to the critics
Don’t let no one stop your nerve
You can mock Ricardian Equivalence
You can laugh at the Laffer Curve.

Tell that guy at the Minneapolis Fed
To shut up, or you’ll break his legs
And if the Bond Vigilantes don’t like it?
Well, they can go suck eggs.

And it’s called quantitative easin’
You know I say this for a reason
When the economy just sits there squeezing
Loosen things up with quantitative easing.

Wrtien by Dave Stehman

The 30-year, fixed-rate mortgage — the bedrock of American home ownership — but for how long?

Here’s an NYT op-ed where the writer compares a 30-year fixed-rate loan to a “financial Frankenstein’s monster.” And here’s a look at 3 possible scenarios for the U.S. mortgage market.

Your thoughts?

We can’t take credit for this idea — Scott Van Voorhis over at the Real Estate Now blog actually wrote about this earlier this week. The idea is that there’s positive news coming from the National Home Builders Association annual meeting in Orlando … and no one is really buying it. Maybe it’s because everyone is expecting 2011 to be the highwater mark for foreclosures. Just remember, Boston real estate is a different breed. Add your own pinch of salt to all national real estate news.

Click here for Massachusetts home sales remain sluggish.