This entire historic ridiculous bubble is going to get washed away folks, and then some.
We'll be back at prices last seen in the 1990's pretty soon.
But oh, what a bubble it was. The biggest financial bubble in the history of humanity. The perfect storm of greed, corruption, ignorance and incompetence.
And to think, nobody saw it coming. Right?
Home Prices Seem Far From Bottom The American housing market, where the global economic crisis began, is far from hitting bottom.
Home prices across much of the country are likely to fall through late 2009, economists say, and in some markets the trend could last even longer depending on the severity of the anticipated recession.
In hard-hit areas like California, Florida and Arizona, the grim calculus is the same: More and more homes are going up for sale, but fewer and fewer people are willing or able to buy them.
October 18, 2008
Posted by blogger at 10/18/2008