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

To: tejek who wrote (177099)	1/14/2009 5:46:21 PM
From: John Chen	Respond to of 306849

"Until the housing market is stabilized and prices stop going down" They should have done it a few years back and stop prices going up, waaay up. Defying gravity on earth ?! You can only HANG in there for so long !!! Even with a lot of HOT air.

To: tejek who wrote (177099)	1/14/2009 5:57:21 PM
From: XBrit	Read Replies (1) \| Respond to of 306849

<<Assuming that the 6.9 figure is accurate>> It's wildly inaccurate. See a zillion posts on CR's blog. The current number is about 11-12 months of inventory, and it's not stopped increasing yet. There is a big wave of foreclosures coming up as the various state and lender moratoriums expire, and that will guarantee further worsening short term. Gary Shilling (in his pay-per-view letter, I'm trying it out) comments that housing inventory typically normalizes very slowly after busts like this, and until it gets down to 8 months it is not possible for housing prices to stop falling. His estimate is mid-2010 at the earliest.