the American mortgage market

No, it refers to the American mortgage market.

It refers to the marketplace where mortgages are bought and sold by banks and institutions. Subprime loans are traded in this market, but it includes other types of mortgages as well.

True! The biggest problem I see for our future is the increasing numbers of home owners getting behind in their payments that continues to exacerbate the insecurity of our financial markets. As long as unemployment and reduced hours continue on for several more years, more homeowners are going to fall behind in their payments.

The government's plan to "save" homeowners will not work; they only increase the government debt on property that becomes less valuable.

The swings in the stock market doesn't mean much when the domestic economy continues to lose workers.