Another interesting article that I found on Reuters. As some of you know...many of my blogs have been syndicated there... so I'm always receiving feeds from them on my Yahoo home page.
I find it interesting how they are using price declines as one of the major reasons why it will most certainly be a long time before we see any major rebound or market correction. I believe one factor is that back in 2003-04....the market we were seeing was just a mirage and never should have been.
Most homeowners were conditioned to believe this and now are looking down instead of up. I also think that instead of expecting a 25% return over a few months and then selling is what caused the fake market.
If you look at natural numbers....most will agree that if you were to gain anywhere from 3-8% a year in return.....we probably wouldn't be in this situation but of course there are other factors such as financing loans for people who never really could afford the payments.
You can read the rest of this story >>>HERE.
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