Bubbles can’t stay inflated forever, no matter how much the PTB want them to 🙂

And with any luck, we’ll see principal mods with few strings attached next year. More people able to sell at lower prices without doing a short sale or going to foreclosure. Buyers win, sellers win, everyone but the banks win, and I don’t really care about the banks.

Besides, who knows what the Fed will do next year. On the one hand, you have Yellen who has a reputation of being quite dovish. On the other hand, you have the voting seats on the BoG actually rotating to more conservative members.