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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: CalculatedRisk who wrote (8075)6/19/2004 12:03:55 AM
From: mishedlo  Read Replies (1) of 116555
 
From Harmy (down under) on Housing...
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The housing market has finally popped with expensive houses all round here putting up the "For sale" signs - my view is that a fair chunk of equity has been lost and yet they are still paying out for big mortgages and are trying to exit before they lose too much. Looks like a fair way to go yet though with further rate hikes predicted which will really pop the bubble. One unbelievable thing I saw was on the back of a Realty rag was a message telling sellers to get real over prices and that the good times have finally gone. Now that really means that it's a buyers market.

Regards
Harmy
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