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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Crimson Ghost who wrote (31732)5/22/2005 3:45:04 PM
From: Mike JohnstonRead Replies (1) of 306849
 
There is a real bubble mentality in the US housing market,'' Prof Krugman said, adding that prices of US housing were 250% of their real values.

The decline to fair value could put about 40-50 million households upside down, since even those that bought 10-20 years ago have recently traded up to something they normally would not be able to afford ( ie 800K Toll Bros. house) using their "profit" as down payment.
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