davelj, I think you are right, of all the fakers I’ve known, most have already been flushed out, including the mini trumps. I did a little case study on an old neighborhood of mine where I knew all the names and the stories so I could follow up easily, these were pre-bubble buyers who refied their lifestyle. Out of about 16, 4 would qualify as fakers. 3 are already forclosed on/repo’d luxo autos, etc. and one is in escrow selling short as I type and has already downgraded cars, etc. I know it’s a small study, but it hit your 75% exactly.

Newtosandiego, I’m not sure a bad economy makes divorce rates skyrocket, it may just seem that way because of the timing. Sure, there are probably some marriages held together by baubles and bangles but there are many more that are staying together because of the limited opportunities, probably an equal amount. As a connoisseur of divorcees, I have noticed an abundance of trophy wives on the open market and it’s kinda fun to see them frustrated with the lack of takers.