No, I just think it is going to take a while to work out all the debt that built up during Greenspans long period of artificially low interest rates.
Personally I think residential prop prices can still fall a long way, when you consider the affordability of the average wage. Again, IMO a bit of a bubble there due to multi decades of low rates that allowed speculators to leverage into multi properties, and a few of those properties are likely to come on the market.
The age of J. Kehoe is over. How many were burnt?
IIF Price at posting:
15.3¢ Sentiment: None Disclosure: Held
