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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: GraceZ who wrote (88384)9/7/2007 5:35:17 PM
From: kathtooRead Replies (1) of 306849
 
Grace,

My post clearly stated IF we are in a depression. Also, you used the depression statistics of 1929 in your post to scuttle the idea that today's housing crisis was not like the 1929 depression. I merely pointed out that this is the beginning of the housing down cycle/foreclosure cycle and that therefore no such comparison could be made at this time. But for what it is worth, I do think we could be headed for a depression. Did you here the guy on CNBC today say that the income market had come to a screeching halt? Lots of stinky paper that no one wants. Nothing new there, but the problem isn't going away. Nobody is buying mortgage paper. Got Housing crunch extreme? Hmmmmm. FWIW, I always enjoy your posts because I think you are very knowledgeable in the area of finances, but like Matthew Shirley of Anne of Green Gables fame said to Marilla, "It ain't wrong to have an opinion."

Cheers. Kath
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