I've been doing some ActiveRain housekeeping today and I ran across a comment from Bryan Brady posted exactly a year ago. My post was about the high rate of contracts falling through a year ago.
Bryant's comment was eerily prescient.
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Lenn,
We agree on this subject that all are getting their just due,
Roberta Murphy offers some interesting thoughts * * *.
I cautioned of the bloodbath [next year here]. I'm afarid that the fallout will be more than just a "blip" though. I'd appreciate your thoughts. Many homeowners got into these loans without income verification and extracted equity to pay their bills within the last two years.
The result could be extraordinarily tightened lending guidelines. A loss in liquidity is never a good thing for real estate markets
Posted by Brian Brady on 10/14/2006
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"The more things change, the more they stay the same."
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