We’ve just been through the biggest credit bubble in human history with basically all asset classes going through the roof for the last 4 years or so. Economic history tells us that this will be a horrific unwinding. Some pretty sharp analysts are saying that most assets will stabilize at 50% from their peaks. That makes the median priced RE in CA about $200 and the DOW at 7500. But the real beotch is gonna be getting there. I think that next couple of months unemployment numbers are going to hammer the markets as this will indicate a systemic melt-down beyond RE and the financial markets. Retail will get slaughtered. Just my 2 cents.
