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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: bentway who wrote (172569)12/19/2008 4:50:57 PM
From: ChanceIsRead Replies (1) of 306849
 
Home price to drop another 17%-24% to bottom.

Another great source from CR. See the report:

designs.valueinvestorinsight.com

and especially pages 28 thru 42.

There is no way that the government can stop the reversion to historical mean. It will happen.

What the government can do is to try to mitigate the collateral damage - let the air out slowly.

I am in the von Mises camp. Recessions come through misallocation of capital. As a society, we jammed too much capital into housing. It makes no sense to jam more in or not to take some and redirect it elsewhere.

I get soooo irritated by these plaintive cries from Congress.....do something to help the homeowner. He made his bed, let him sleep in it. In many instances the jingle mail is best for the (former) homeowner.

To me the approach is obvious - renter nation. About the only sensible thing the government has done is to allow renters in foreclosed investment properties to stay a while longer - anti-eviction legislation.

Houses don't produce anything. The situation must correct. The borrowers, lenders, and intermediaries all have to take their lumps.

When does it ever benefit anyone to continue to deny the reality of an economic position. It clouds the judgment.
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