Greed is actually self preservation gone awry. I think it is just as possible that self preservation is going to lead sellers to go more in the CYA direction. If there truly is a scarcity of buyers willing to bail them out and they are also also playing CYA , which seems apparent, there is the potential “Rush for the exits” right there. Add any other catalyst, maybe even just foreclosures finally getting priced like foreclosure and we got a stampede. Of course an unforseen catalyst could work the other way too. The only one really being considered seriously at all is a bail out. I think that could help the market find support earlier but that still might be after some serious depreciation?
