The American people don’t stand united on very many causes these days, but the recovery of the housing market is one of them. After all, failure was tied to the unhappy fate of so many households that most of us would like to think that its good fortune would signal similarly widespread prosperity.

Well, the housing market is now limping again, although the signs of a total return to health are a good deal more promising in the upper than the lower echelons. The Wall Street Journal reports that jumbo loans—larger, higher-cost loans used to purchase luxury properties—are doing really, really well. A lot better than the rest of the housing market, which is still bogged down by foreclosures and underwater mortgages in many parts of the country. Read More