I live in FL we hit the skids a while back. I actually worked in residential RE consulting, then commercial, now financial services during each collapse. Im going to stop jinxing the economy and get an MBA.
lol/ I left a wave (prolly 6, I lost coount) of bk co's or they just plain went out of business soon after I left. I began thinking I was the jinx, or fk 'em they should have paid me more or did it my way. Who knows.
Where were you guys when we needed you? We could have used the both of you working on the Obama campaign. Your "experience" would have come in handy.
From what I can tell, the next shoe to drop will be Alt-A mortgages. Whether it's fortunate or not, hardly anybody is talking about it. But Alt-A is much larger in scope than subprime. Now, that's freaky.
You won't see much of a decline because everyone is so leveraged out and they simply cannot lower the rents below mortgage payments. It will have to go through foreclosure first. What you will see is lots of "for rent" signs. Actually, there are already here. I look at them, think back to 2 years ago and just laugh. All these developers thought they were the smartest creatures to grace planet Earth.
Most definitely after the holidays and that's it: http://www.elitetrader.com/vb/showthread.php?s=&threadid=144392