Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (100312)	8/3/2009 4:46:21 AM
From: Elroy Jetson	4 Recommendations Read Replies (2) of 116555

The "bottom" in real estate is not so much a seasonal up-tick but a massive effort to prevent foreclosures and keep already foreclosed homes off the market. But this will not last long. Current "loan modification" programs are extremely unlikely to hold back the avalanche of properties for long, with nearly 10% of home owners in California in default on their mortgage. A friend of mine has learned this first hand. Message 25825812 .

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