Well, job growth stopped two years ago, SDR Don’t u think having employed buyers might be as important than underwriting guidelines.

Of course financing issues affect demand. however, we are not going to get more loose lending than we have now or lower rates. Not by any significant degree. What do you need beyond that….. Constant job creation that supports price levels with a net gain in sufficient paying jobs, which is precisely what we don’t have. A consistent stream of new potential owners. We have the opposite. No job growth, no new potential buyers, at least not a net gain, are being created equals demand depleting…. Even official stats show this as well as incomes declining on a national scale and that is all that matters in this game now. Jobs, jobs, jobs with incomes sufficient to hold prices up ….

here’s my limb…. Second half of 2010 to second half of 2011 prices start trending down, nationally. Unless, a massive new engine for job growth pops up or the Fed starts dropping pallets of 100s into the street nothing will stop the decline. Well not nothing, they could just keep shrinking the market and create even more ARTIFICIAL scarcity.

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