The ‘tipping point’ is when the sheeple realize everything we’ve known for years; that real estate is over-valued, its due for a ‘major’ correction and it has a long way to drop before it hits bottom.
Mass public-perception is everything and this ball is just starting to roll. It was only a week or so ago that the housing collapse was front-page news on CNN. It’s all downhill from here.
To Mark S.,
I’m not sure what your point is? That a few million people that have been living beyond their means, probably for at least the last decade, are going to have to pay the piper?
What about the rest of us, the responsible fold, that *already* lead meager lives, because we are fiscally responsible? No fancy house, new car or HDTV for kewp!
