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To: LoneClone who wrote (88732)	8/17/2007 11:04:49 AM
From: Rocket Red	Read Replies (1) \| Respond to of 313620

maybe so but the damage in the worldwide markets has been done now

To: LoneClone who wrote (88732)	8/17/2007 11:14:51 AM
From: maxncompany	Respond to of 313620

His mistake is that his focus is too narrow. The problem is way beyond just subprime.

To: LoneClone who wrote (88732)	8/17/2007 11:15:30 AM
From: kathtoo	Read Replies (1) \| Respond to of 313620

But that does not take into account all the people struggling every month that start wondering why they're paying such high mortgage payments on a house that is now worth significantly less than what they paid for it, begetting more foreclosures, begetting lower prices, and so forth; so the situation Roulston talks about is just the first domino to fall. Also when lenders are reluctant to lend because of tightening credit standards and declining values, it begets more inventory, and so forth. For instance, I heard from a person in Pittsburgh that the Realtors have run out of lock boxes for the first time ever! It's early in the down cycle me thinks.