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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Crimson Ghost who wrote (31745)5/22/2005 11:50:55 PM
From: SouthFloridaGuyRead Replies (3) of 306849
 
I expect nominal price drops of 25% in NY. The real drop will be higher though due to inflation.

I expect 40% nominal price drops in parts of the West Coast which at this point is a joke.

The Investors Intelligence totem pole will sort itself out starting this summer and millions in paper wealth will evaporate.

This will make the 2000 market crash look like a joke. We can thank our local Congress for exacerbating the problem and effectively sending the debtors to debtors prison.

Do I want them to rot, yes...but unfortunately this would have sorted itself out a lot better if people could just file for bankruptcy. The old laws were fine, IMHO.
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