I know, I totally agree … That’s why I am thinking 70% down.
Lets see, its shot up 3X in the last 8 years based on funky financing and liar loans and massive speculation, and roll back 8 years to 99 lets say, and that itself was propped up by a pets.com and web van based economy, so lets take that factor out, so 97 and that would be a decent fall back price, except that the engineering and technical jobs which we were importing high $$$ immigrants for (like me) are now being exported en masse to india and china along with the cheapo call centers and lower $$ medical billing jobs.
Ergo, 97 is also too high … but we dont have a definite fall back location though from 97. So I am pegging it at 97 prices – … or an approximate 70% drop from the 05 peak. It will take time … 1-2 years minimum, maybe 5-6 years, then baby boomers dump their built in the 70’s loaded with lead paint and asbestos crap and all bets are off …
The 50% drop yahoo’s are just crazy out of left field … I’ll agree.
Cool.
Cow_tipping.
