It is this “stretching of the truth” that I have been railing against for the last three years.
Lot’s of nice, good people are going to burned as a result of the housing bubble’s equivalent to laundered money.
There has not been a “fundamentals” based transaction on a cookie-cutter home or condo since at least 2003, probably earlier. This is why we will see home prices back below where they were in 2003. Argue all you want with me, but this is how it’s going to be. The whole country is heading back to 2001 prices if you ask me. How can anyone know the true value of their home in these conditions, with so many fraudulent players, “painting the tape”.
Prove your point, with a sound case, and I will change my mind. Otherwise, grit your teeth, and sell real-estate and loans to people at your own peril, as they will most likely all end up in financial ruin as a result of your efforts.
