In 1996, before this upswing started, if I had allowed my imagination to run totally wild I would never have guessed that pricing would have gone as high as it has or the extent to which it has influenced our society. Based on the information available at the time it was literally beyond my imagination.
If a person allows their imagination to run just a little wild now about how low it can go and what the consequences would be as a result of that decline, they could come up with some truly scary scenarios.
If I am as wrong about the results of this decline as I was about the results of the increase, I’d almost be compelled to ask the question if it’s possible to be too bearish on RE at this time.
