Hate to break this to you guy’s but the economy will never recover until home prices are near peak again, (not that I think that’s going to happen anytime soon) it’s just that there is no way anyone who once thought his home was worth such and so is going to feel like spending any money until it gets back close to that point.
It’s just human nature.
If only 15% or so fall into that category then we are going nowhere.
Also the Property tax base must get back to 2006 and then some if we are to keep the current Local Gov spending at current levels.
Otherwise it just one cut followed by the next more painful cut then the next.
