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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: mishedlo who wrote (38202)	8/9/2005 12:38:14 PM
From: epicure	of 110194

In the last market slump in California prices dropped by about 1/3 in our area. It is a suburban area, and it got so bad that some people who were desperate to move started putting fliers on doors begging people to buy their homes (that turned out to be the bottom of the market). Many of us had our homes revalued, because the sale price we were being taxed on no longer reflect the real value of our home. We were lucky and bought near the bottom of the dip. This dip will be worse (imo) because so many people have such strange loans, and there is so much speculation in the housing market by inexperienced under capitalized "investors".

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