Countrywide saying that they will restructure loans is nothing more than trying to hype their stock in my opinion. Prices have met a lot of resistance so far for many good reasons. Banks will start renting out foreclosed properties just to shore up finances. It will be a very good time for property management companies in the next year.I’m looking for market price correction in March of 08. Which interestingly enough will be a first for housing as prices historically go up in the spring.The fire will have no effect on the overall economy.I don’t know where the bottom will be, but we are a long way from it price wise.Any guesses?
