william the wie
Gold Member
- Nov 18, 2009
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Why, the miscalculation of market size and consumer wealth was so bad that the shoes won't stop dropping until 2013 at the earliest. House prices kept rising until 2006 and sold reasonably well through 2007. Option ARMs with 5 year resets are still in their teaser rates and it takes 2 years for foreclosure proceeding to work their way through the courts. Therefore it will be at least two years before damage assessment can begin in the meantime bitching and moaning warns people away from jumping back into the real estate market.I think we oughta move away from pointing fingers at who to blame and concentrate on what to do to get out of this mess. Sure, we don't want to make the same mistakes, but the name calling and demagoguery has got to stop.