Until we live off intellect instead of emotions this is what we will do to ourselves
the thing to take heart is....
it has to get worse before it gets better
the worse is starting
Next will come reality setting on the secondary mortgage market
they will dump the REO's
furthering the reduction in prices when that is done and the foreclosure trends starts to trend downward, the bleeding will have stopped
Hopefully the RE People are taking notes
Its more amusing to blame the flippers and have another cup of coffee, and relive 2005 again
That will the standard banter for the next few years Then look for a bottom to start to form
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