I think the housing is going down another 25-30%, due to all the foreclosures in the pipeline, plus the ones to come due to rise in unemployment. North Coastal will see “only” 12-15% down (from the 2008 prices).
Oh, and I, too, believe the rates will go and stay at below 5% all year… and much good will that do…
I am afraid 2009 is going to be much, much worse than 2008 economcal overall. I am VERY afraid.
