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

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To: mishedlo who wrote (68690)	8/23/2006 11:20:14 PM
From: John McCarthy	Read Replies (2) of 110194

Mish I am waiting for the WASHOUT EFFECT (new word) Its when the inventory of unsold houses = 12 months. It is then followed by two trains of thought: (a) Increasing foreclosures/bankruptcies ... (b) More importantly, night after night news story FEATURES related to: (1) Mr and Mrs America losing their home or (2) Mr and Mrs America - their hardship and the pain of their current debt load. I realize alot of the initial unsold homes were just flip-homes, but as they swell, that miss, at some point (I think) begins to effect those persons REAL personal finances or their PERCEPTION of the status of their personal finances. Anyway, thats what I am waiting for. One more comment ..... OK? As we head closer to a WASHOUT EFFECT ..... Even if rates come down, people might not react to it they way they have reacted to lower rates during the last 4 years .... IOW - the growth rate in home sales stays at a lower than hoped for rate of growth .... regards, John

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