This bubble is deflating a little faster than I expected. The housing sentiment this fall, compared to last fall, is way more negative. It reminds me a lot of he 90’s, except that there has been a lot more speculation inflating the bubble this time around. The effects of the fact that the real estate “investors” have given up, and are letting their houses be foreclosed upon is just beginning to be felt. This is going to accelerate the slide in prices. I am with the Piggingtons who think that we have only just begun!
