I’ve grown tired of analyzing the miles and miles of stats that all point to a continued downhill drop in prices.
Here’s all that I need to know for now. 3 main points, just like college speech class:
1) 67% of loans made in the first 11 months of 2006 in San Diego were interest-only or negatively amortized.
2) Of that 67%, 30% were neg-amort. loans, a 3 x increase since January 2004 and 30 x jump since Jan ’03.
3) Median price in Jan 07′ was 5.6 % lower than Jan ’06!
We are such an optimistic society, preferring to believe that tomorrow will be better than today! The only real question is whether a market like housing can be continually manipulated over time to consistantly produce a positive output regardless of the fundamentals. I have to assume that the answer is no, and that there is no wizrad behind the curtain running this show.
