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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (109387)	3/12/2008 3:56:05 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 306849

amazingly, I actually agree with you on something. While there are some similarities between US now and Japan, Japans largest weakness was their unwillingness to "bite the bullet" and write down their overvalued assets back to 20% of the Japan bubble value. We aren't doing that, in fact, Mark to Market as is the case in US is actually something of overkill for writedowns. having said this, a lot of banks are holding REOs and clearly not moving on them (at least here) because they don't want to write them down. I am looking for property and banks have a lot of overpriced REOs on their books. But thats a minority.