What an interesting thread. I don’t post here much, so all the drama was very interesting.
I think the difference is the scale of the loss. A stock loss won’t generally put you into bankruptcy. The housing losses we will see over the next several years will.
I agree. Right now in Irvine it would take a 55% reduction in price to bring rents in line with payments. 40%-50% declines are not unrealistic.
