To the contrary JWM, I was spot on. I called to 5 to 10% decline in my market (North County Coastal which is all I am really qualified to comment on) with a bias toward the high side and most of the decline coming between September and December. Its all there in the archives for you to verify and I said this many times.
As for sounding desparate, it is you who sounds desparate. I’m locked into a home my family loves with a mortgage 1X my annual income (most of which does not come from RE but rather very recession proof sectors). I could pay it off if I wanted to today. A crash would benefit me more than you as it would allow me to pick up the 5 to 10 prime investment properties I am hoping to accumulate over the next 15 to 20 years.
As for how bad this is, I have every idea of how serious the situation is and it is exactly for that reason that I prepared my household for this beginning in 2002.
