People tend to believe what they what to believe. Most folks are “homeowners” now. They want to believe that there house;s value holds up. RE industry will feed into their need. Only an actual collaspe will convince them. It’s kinda like the O.J. jury. Blood DNA evidence wasn’t convincing enough. In terms of RE, glut, credit contraction, oversuppy, increased forclosures, ARM reset aren;t enough evidense.
