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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: CalculatedRisk who wrote (39450)8/23/2005 11:24:49 AM
From: John Vosilla  Read Replies (1) of 110194
 
Lereah just on CNBC and said existing inventory is now at the highest level since 1988. That is confusing to me as the national figures should have been at its worst 3 or 4 years later. A plausible explanation is the oil patch markets cycled at their depressed lows much sooner than the rest of the country and recovered sooner. He also did mention the high end South Florida condo market as the biggest risk of all today. He appears to be taking a much more cautious stance than he did when his book came out.
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