2010-10-23zerohedge.com

"To wit: the CEO of Gary Shilling & Co. sees home prices tumbling another 20% over the next few years, and the number of underwater mortgages nearly doubling from 23% to 40% (meaning nearly half of America will likely strategically default as nobody has any initiative to pay down their mortgage when they know there is no equity value left)"



Comments:

catherine at 20:22 2010-10-23 said:
amen amen, this guy is right on..............60% OR MORE DROP when it is all over.............and won't come back for over 10 years, just like the FIRST depression.............remember all those guys bragging on the real estate deals they were buying in August 08, sad, very very sad......... Permalink

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