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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (481222)	4/7/2012 10:55:36 AM
From: Little Joe	3 Recommendations Respond to of 793575

Well depends on how cheap. Remember this will be the floor on the market. They may buy cheap, but will that be 5% under current prices or 50% under current prices. You say cant happen Richard Russell in his newsletter wrote about his father buying houses during the depression. He said his father bought homes that he was able to amortize in 2 years. I would estimate to do that we would need to drop 90% from here. Don't think that is likely but we will never get out of this until the floor in housing is reached and it won't be reached by constantly supporting housing prices. lj