I would agree with you sdr. I am still fairly amazed at the staying power of those who can afford to make the payments.
If I wasn’t so tired I would dig up old posts in 2006 about how far down everything would go. Those posts are now fairly laughable because in the end the market is about as free as a canary in a coal mine. The manipulation and interference by the government is only going to continue and where prices would get to under an unfettered market would be measurably more.
Really the only hope for quite substantial run downs will be in few years when our credit dries up as a whole. That will move prices substantially.
