U.S. Home Prices to Drop Additional 10%, Says Subprime Investor Lippmann

catherine at 02:03 2010-12-04 said:

I want some of what he is smoking, 20-30% DEVALUATION coming IF WE ARE LUCKY............ these guys just don't understand unemployment is cruising in the 25-28%......why would they? have they seen a growing tent city lately? have they been in a mob that is begging for housing in 3 big American cities? Did they see the mob yesterday begging for heat in Georgia? Have they seen any hiring except for government in 3 years????

nope they look at the FAKE 9.6% NUMBERS and they get excited when the government says they have created 39,000 JOBS, :shock: :shock: :shock:

IN A COUNTRY WITH OVER 300 MILLION PEOPLE, 39,000 is good news, :x :x you have got to be kidding?.......(this is christmas hiring time, this is even worse than it looks).

they see the rising stock market and ignore how the Fed is buying that, they SEE THE LIST OF PEOPLE THAT THE FED SPRINKLED TRILLIONS ON and ignore that those trillions of poor taxpayer dollars poured on this mess is the only thing making the rosy scenario kool-aid even possible to drink.........

These 'EXPERTS' only are looking at their 'lifetime history' and knowing how we have recovered before, they are not looking at today's reality the OLD RULES AND OLD REALITY WON'T HELP IN THIS 'NEW RULES TIME.

There are NO MORE BUYERS, 39% of the market, baby boomers and gen xers and illegals ARE GONE..............I don't care how LOW THE PRICES GO ----THERE ARE NO BUYERS.......and more empty property than ever in my lifetime.

(like I said 3 years ago, I don't care if interest rates GO TO ZERO there are no buyers - that was when everyone was excited about LOW rates causing a mob wanting to buy and refinance, didn't happen did it?)

and 2 million people continue to lose their jobs EVERY SINGLE MONTH FOR 3 YEARS STRAIGHT............

10 million foreclosures are going to be dumped on America and 39% of the borrowers are gone

and it looks like TAXES are rising too..............plus 2 million a month losing their income EVERY MONTH - bad combination, isn't it?

AND BECAUSE WE HAVE SUCCESSFULLY DRANK THE 9.6% UNEMPLOYMENT THAT THE GOVERNMENT AND MEDIA IS POURING ------our government still 3 years later is not TALKING ABOUT JOBS AND UNEMPLOYMENT AT ALL---except as an afterthought............................

and until the real numbers and real facts come out ----- THERE IS NO FIX IN SIGHT,

what do you think the view will be with 12 more MONTHS OF 2 MILLION A MONTH LOSING THEIR EMPLOYMENT?

if you think I am being too mean, what job programs and job changes are you seeing that I don't? and how do we recover with this many unemployed? that fake stock market is not going to fix this AND MORE KOOL-AID IS JUST MAKING THINGS WORSE Permalink