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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (71202)11/14/2007 12:43:06 PM
From: Incitatus  Read Replies (1) of 116555
 
"We are better off holding off on sales at this asset and not discounting as steeply as the market is discounting right now," says Emile Haddad, Lennar's chief investment officer, who oversees the company's large West Coast projects.

That's the same thing that's going on with CDOs. They tell us they're giving us the "worst case scenario," but prices are lower now than in August when there was "no market." They keep assuming that everything will suddenly turn around.

The question is: what will your financial situation be like if housing not only continues downward, but speeds up its decline in 2008?
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