Mish's Global Economic Trend Analysis Message Board

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

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To: TimbaBear who wrote (44658)	1/17/2006 6:33:25 PM
From: mishedlo	Read Replies (2) of 116555

Same argument could have been made 4 years ago. Compare wage increases to housing price increases. Using your logic it couldn't have happened like it did. Timba Nope there is a difference. As long as housing prices keep rising there will be credit extended, cash out refis, and lwere credit standards. Once the bubble bursts, credit standards tighten, people get sacred, and in this case a slowing housing sector causes loos of jobs and rising bankruptcies and rising NOT LOWERING credit risks. A vastly different market at the turn. People were hopelessly early in calling the turn, but a growing bubble can get bigger a popped bubble can not. There is a huge difference. Mish

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