Here it is in all it's glory. How the lowlifes and imbecile home buyers danced with the devil. And lost. http://www.bloomberg.com/apps/news?pid=20601109&sid=aKTGgOD1teG4&refer=home where are the perp walks?
It also indicated that this housing slump will take a long time before we hit the bottom as there are so many excesses still tp be worked out of the system.
many years before there is a bottom in housing, 2012 is the earliest I predict. Housing prices will fall more than 10% over the next 12 months. 2 million foreclosures by the end of 2008.
Are you one of those people that has been making calling bottoms for the past 2 years - finally deciding to go our further? This is an election year - the moves the Fed/govt. makes with soften this decline a lot.
krazykarl: "This is an election year - the moves the Fed/govt. makes with soften this decline a lot." yeah right, like putting a pillow on the spot where the jumper will hit the sidewalk (nothing personal krazykarl)
No worries. The govt. needs the working bums/middle class to be complacent. Mark my words: 10 months from now the bull will have returned, though it will complete the double top at 14000. Regards,