The huge appreciation although it occurred over a long period of time, moved in large chunks over relatively short period of time. I guesstimate we are about to see a large chunk removed.Prices have some what stabilized due to seller’s beliefs that it is spring so there is no need to worry.But as we all know not too much moved ,that creates tension. People are going to realize pretty soon that foreclosure activity doesn’t reflect anything like the bottom and that it is in fact a very bad sign for the market.
Wait until we hear the story. “I just bought a foreclosure and now I am upside down and geting kicked out of my house.”
That ought to do it!
As far as the Deeper goes in the “faster and deeper” I don’t get that unless you are predicting a depression? it will go as deep as it takes to find support and then maybe, as some people have said swing a little past briefly.
