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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (50577)	1/21/2006 12:29:08 AM
From: mishedlo	Read Replies (1) \| Respond to of 110194

How do think the internet spreading fear and information quicker and data in real time will change the dynamics? We've never had this durning a prior RE downturn. There have already been three in our lifetimes as anyone open minded already knows that looks beyond the"..housing prices nationwide have never gone down.." bs mantra worn on so many sleeves" The problem is twofold. 1) First and foremost real estate is NOT liquid unlike stock bubbles where it is in theory possible to get out (although obviously not everyone), by the time liquidity dries up in housing it is too freaking late. There simply will not be any bids. 2) the mantra that "housing never goes down" is fully an completely ingrained in the vast majority of the population. We have not seen a nationwide slump for a long long time. Long forgotten by now. Thus, fear an panic will happen at the end many years from now, or on an individual basis much earlier when someone loses a job or can no longer afford to pay taxes and their gas bill and medical bills. Mish