This article cites all the obvious things, but does not identify the precise factor that leads him to the conclusion of 2000 prices.
The closest thing I can find is that he says lending standards have tightened to something close to 2000 standards … “These dynamics are actually much worse than what were in place in the summer of 2000”
What happens if lending standards tighten to 1985 standards (which I could see happening)? Does this mean we are headed to 1985 prices.
Give me something solid to hang your hat on regarding 2000 prices, not all the hype and emotion-laden prose …
my favorites …
“interrupted consumption binge”
“It’s a pleasant dream, but the wakeup call can’t be too far off.”
“every step down the housing abyss”
“horrific fundamentals”
“sentimental hope”
“sooner or later reality must intrude.”
“Once the wake up call sounds …”
and of course the last sentence …
“read my new book “Crash Proof: How to Profit from the Coming Economic Collapse.””
