Yes the Tide is Turning. Anyone with half a brain can read between the lines of economists, realtors, and govt figures. It is easy to see these people are getting hard pressed to massage the remaining numbers. Everyone is selling something. They are trying to keep their livelihoods alive, while sending John Q. Public down the river. Old saying “If it sounds to good to be true, then….” Time to pay the piper folks. This is gonna get uglier quick. Not many cards left to play as I see it. In fact, the entire deck is gone. This week should be quite interesting in the financial markets since the credit crunch has officially started and the mortgage meltdown has investors worried. Wall Street knows their MBS are all screwed. “Oh, my $800,000 home is really only worth $400,000? Here you can have the keys since I was really just renting it for a year or so until my ARM exploded. No big deal, lots people will be foreclosed and the govt will bail out the banks eventually, right ?”
Get ready for screaming ride down. No need to go to Magic Mountain anymore, just watch the R.E. market.
