“The only thing I think is not on the table is stability.”
It is funny Nor because I have been thinking the same thing for some time now.
The problem with the “stability” thesis is that the “underwater” owners that are still holding on are going to jump one way or another depending on economic news over the next couple of months. If the economy takes another leg down look out below. This whole housing “recovery” seems very very fragile right now. The only thing that is going to keep these owners from walking is if they are convinced that the housing recovery of the last 10 months or so is going to continue.
