“the worst of residential mortgage credit deterioration has yet to be seen across this country.”
Loved this!
These forecasts are very good. Thanks for posting.
Bugs – this is part of the banking game – create a bubble in some asset class, profit on the expansion of that bubble, then when the bubble pops profit on the deflation – Goldman will get lots of business (and fees!) from anxious clients wanting to reduce their exposure to CA real estate
Great analysis! This explains exactly why ‘the experts’ don’t say anything on the way up. They’re all in on it.
Everyday I distrust Big Business, and Big Finance more and more.