But that was when the most were sold too. So based on the total number of places sold during the '05-'06 bubble and the rate of places being sold now--it may take years to absorb the over-priced bubble-era investulator inventory--especially since the Fog This Mirror™ loans are no longer available.
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...and Bernake is going to have to raise rates here at some point, inflation is rising at a fast clip and energy costs continue to rise. When he does, it in turn will hurt bank recoveries, causing more tightening in the lending markets, and more failures.
2009 plus the first half of 2010 are shaping up to be really terrible times overall. If you're not in a defensive position financially, you should consider doing so, and soon. The housing turn around though should start to show up in early 2010, with people dumping stocks and investing in real estate again.
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