Relevant:
- Conservative Property Index Predicts We Are Less Than Half Way Through Fall
- Our American Homes. They All Fall Down -- Much Further.
- Deep Depreciation-American Homes: They All Fall Down -- Much Further.
- Property Values Set to Fall 49% From Bubble Peak to Long-Run Average
- Looking into the Japanese real estate mirror: Residential home prices in Japan back to levels last seen 30 years ago in spite of near zero percent mortgage rates.
2009-11-02 — newobservations.net
" If you use a 20-year time horizon, and assume prices will return to the trend line, then our residential property bubble will bottom after values fall over 40% from current levels (see above (c) aka “(Y) – (Z)†aka “Loss Today to Bottomâ€). I make no predictions. I do watch numbers. The chart shows a catastrophe of falling real estate values loaded up on top of our current catastrophe in real estate values."
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Comments:
tvsterling at 21:35 2009-11-02 said:
This is the legacy of offshoring & predatory banks. The average American can no longer afford a house. The country hasn't generated good jobs in several decades. Now we are caught between a rock & a hard place. When the real estate values fall to a level that citizens can afford the wealth destruction will finish what's left of the economy. This is the end game of Voodoo Economics. Permalinkadd a comment | go to forum thread
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