Not much to add here that we haven't already said before [8]about the state of demand for housing by the ordinary American.
First it was Wells Fargo [8]:
[9]
Then it was JPMorgan [10]:
[11]
Then it was Citigroup [12]:
[13]
And now, it is Bank of America.
[14]
Remember when bank success (and profitability) depended on them lending such trivial things as mortgages so they could arb the Net Interest Margin (which incidentally also tumbled to a record low for Bank of America)? Good times...
In other news, the "housing recovery" is now complete.