I that by the fall of 2008 the streets will be running red and we're going to see some really shocking price movement. I think that's when we're going to see the majority of movement in this downcycle; after that the price declines will just bleed out.
Bugs, are you saying that the "steepest part of the curve" will occur in 2008 ?
I think 2009 will be the year when most of the 2008 ARM resets will become REOs. So, 2009 is when the lenders will conduct "fire sales". Do you agree ?
