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

To: Ramsey Su who wrote (69000)	8/28/2006 10:40:10 PM
From: ild	Read Replies (2) \| Respond to of 110194

<<<Realtytrac showed there were 888 REOs already, which is really a very big number for San Diego. I actually did not remember SD having that many during the worst years when I was the business. >>> Shouldn't we then actually see them in MLS listings?

To: Ramsey Su who wrote (69000)	8/29/2006 12:46:43 AM
From: John Vosilla	Read Replies (1) \| Respond to of 110194

'I thought bubble areas such as SD should have a little cushion from a couple of years of strong appreciation but this is obviously not the case.' In the end they will be not much different than what has been going on for years in Colorado, Texas and Georgia with very high foreclosure rates. Only in your neck of the woods they owe $500-800k instead of $100-200k so it has to be much worse when the shit hits the fan. I noticed from a graph posted today on this thread that foreclosures didn't top out until early 96' in your area. If history repeats we have at least five years of this to look forward too. Not much different from the hell of being invested in former high flyers of NASDAQ from 2001-06.. It is going to build character for a whole generation of new age real estate moguls who will curse RE by the end of this decade..