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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Perspective who wrote (61759)	5/23/2006 3:49:58 PM
From: Jim McMannis	Read Replies (1) of 110194

RE:"The problem is that RE prices do tend to be "sticky". It isn't as simple as calling up the broker and saying "get me out". Lots of people will be stuck in homes that they CAN'T get out of due to negative equity. I think the cleansing will take something around ten years or so, just my WAG." I agree but think 20% off the top will happen rather quickly as the Speculators dissappear. Then comes the grind down. After all it took 10 years after the $500k tax break and 6 after Greenspan opened the flood gates and 5 years after the damn broke after 9/11. So when I hear things on CNN and CNBC...like "Is it a good time to buy". I just laugh. Like 20% off a house that's gone up 5 times in price is "such a deal".

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