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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (1225)	3/4/2004 5:18:55 PM
From: orkrious	Read Replies (3) of 116555

my wife sells residential real estate in the detroit suburbs. she just made an offer on a house listed for 600k. the most she thought the house was worth and what her buyers would pay was 550k. the people couldn't sell their house for that. they would be 20k underwater. this house was several years old and the people had leveraged it with home equity loans. this isn't the first house like this she's run across. has anyone said this is going to end badly?

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