I read that article last night and it sounded kind of grim down there in Florida. It sounds like the boom there was even worse than it is here in California or Las Vegas. I would not like to own "investment condos" in Miami right now.
I don't know. It should happen something like that. It would be nice.
I think housing has calmed down some. I guess it will ease more, but how severely and how soon? And what about the market plays? Sure many subprime lenders are likely roadkill. Freddie and Fannie are already less profitable, but knows how they were doing to begin with? But will the homebuilders turn out to be overpriced or underpriced at 6 times earnings? I can't tell.
My instincts and analysis of recent trading tells me that higher interest rates, tighter liguidity and higher commodity prices are finally having an impact on the market. There is a good chance, imho, that the market is looking at much tougher times in the IMMEDIATE future. Do you have an opinion. Housing prices may finally get a cut here in the O. C.