No, it's not possible to move from right to left.
Ye, it hath been foretold. Thine bubble must taketh thou down thine path - all the way down. Especially for the biggest financial mania in recorded human history...
We've got a long, long, long way to go still before we start the climb back up. We're nowhere near bottom. Nowhere near.
So until then, we're still somewhere between Denial and Fear right now, with tens of thousands now entering Desperation and Panic as the foreclosure and short sale process is firmly underway. All of this "we've hit bottom" happy talk is sooooooooooooo 1929/1930 isn't it?
December 29, 2006
For the coordinated "housing crash has hit bottom - good times are here again" crowd - what part of this chart don't you get?
Posted by blogger at 12/29/2006