I agree as well that this in itself will not do much to disrupt the Socal depreciation cycle. However I don’t think that any bailout will take the form of some massive one step announcement. What worries me more is death by a thousand needles. A small program here, a state sponsored program there, minority groups claiming that an overwhelming percentage of people losing their homes is in their group and this must be halted. Service agreements being altered to allow modification of rates because investors agree to take a lower return then lose their nut altogether, politicians promising that NO AMERICAN WILL BE PUT OUT ON THE STREET as long as you give me your vote…
Even in the worst case I don’t see anything reversing the trend locally here in town. However in that same worst case I do believe that the trend can be prolonged.
