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Politics : Welcome to Slider's Dugout
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To: RonMerks who wrote (8743)3/26/2008 2:15:03 PM
From: jim_p  Read Replies (1) of 50670
 
The DOW was also flat from 1987 to 1990. By 1990 85% of the 1043 S&L had already failed. Home prices began to decline in the SW back in 1981 and they stabilized at their low back in 1986-7. It took six years for prices to reach the bottom and they stayed there for the next 2-3 years. Home prices today have only been declining for the past two years.

We also didn't have zero down no doc loans back in the 1980's. In fact I don't believe there has ever been a time in history when you could buy a house with zero down and or no income verification?? Back in the 80's the norm was 20% down so you can't compare today with the 80’s. Given the fact that there has never been a period in time when you could buy a house with no down payment and no income verification, the credit/real estate bust cycles that took place in Finland, Japan, Norway, Sweden and the US in the 80’s may just turn out to be a cake walk compared to today???

Weshallsee,

Jim
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