Your prediction of 30-50% is pretty obvious, not sure why people could arugue that it is unrealistic. The reality is today’s prices are completely overvalued, a major drop will simply bring prices back to their real, sustainable value based on income and other fundamentals.

Homeowners who are used to having all this temporary equity need to pull their heads out of the sand and get used to the fact that their net worth is going down big time if they don’t sell their house.

Powayseller is the bear’s answer to the bullish propaganda that we’ve been inundated with for the past decade…our Great White Hope, if you will. She’s been doing it for only 6 months now, so she has some catching up to do.

Cognitive dissonance:
“And I regret that we couldn’t have a civil exchange…like adults.”
“Take some valium first. Sell your house, and get over it.”

May I suggest a 4th reason for your list: I get irritated at your posts because you can’t seem to even imagine the possibility that you could be wrong, and you are convinced the only reasons someone could disagree with you are fear, jealousy, or ego. It’s incredibly condescending.

The financial sector has a lot riding on the housing bubble. Do you think it’s impossible for that industry to come up with something clever and/or evil that hadn’t occurred to you?

I say this as a lifetime renter who hopes prices drop like a stone, by the way.

At some point, we just have to say “I think is is 25% and you think it is 50%, lets meet up in 5 years and see.”

The horse named “Powayseller’s 50% prediction” is dead and still receiving the pummelling of its life.

PS, I like your image and your posts.. but I can see why people would resist it.. No one really knows exactly what will happen.. but a good question is why do you care what they think? Why must you shove it down their throats.. it’s almost like you don’t seem satisfied until you witness them barf some back up.. Who cares whether someone agrees? Are you really trying to save them, or do you need people to agree with you to feel right?

Why not make the prediction 47% or 52%.. I think people are going to be a little line shy if you toss around a number as round as ‘50%’.

Your approach requires people to agree before you stop.. you’re relentless which is good in some ways, but beating the same dead horse can’t be healthy for you… I believe your audience will expand with a more Rich like approach.. he doesn’t go around attacking dissidents, he puts together the evidence and lets the reader decide.

I like you.. but I can sort of see where some of the people that get frustrated with you are coming from.

Does anybody find it surprising that the PITI number corresponds to what the payment is with exotic loans?

This is a very telling statement.

PS I do agree with your forecast entirely and am never angry with your posts! I hope you didn’t take our posts in the previous thread as anything more then a simple difference of opinion. I do feel that as a whole (all of zip codes lumped together here in SD) that 50% is reasonable. In my opinion some will be more then 50% and some less then that. If my statements came off as bullish that was not the intent.