HOME PRICES WILL FREE FALL UNTIL THE AVERAGE US SERVICE SECTOR WORKER CAN AFFORD TO BY A HOUSE...
AT ABOUT $15.00 PER HOUR...THAT MEANS ANYTHING OVER $125,000 IS PROBABLY PRICED FOR "SPECIAL CASES."
REMEMBER WE ARE NOT TRADING $1000 DOGS FOR TWO $500 CATS ANYMORE...
THE PONZI SCHEME ASPECTS OF THIS MARKET ARE OVER... FINISHED...!
THE "CLOSED GAME" OF HOME PRICE "TRADE UPS" IS OVER...
NOW ITS TIME TO CASH OUT...AND THE CASH JUST ISN'T THERE... AND THE CREDIT ISN'T EITHER...BASED ON PRICE AND INCOME AND CREDIT SCORES FOR NEW BUYERS.
I WOULD BET THAT MOST SALES ARE FOR CASH NOW...DESPITE THE NEW CREDIT PUSH...BUT THAT CASH BUYER IS GOING TO BE OUT OF THE MARKET SOON...
AND THE LOW WAGE BUYERS ARE STILL PRICED OUT OF THE MARKET...
WHEN THE AVERAGE SALE PRICE HITS ROUGHLY $125,000 THEN WE COULD BE NEAR A BOTTOM...BUT NOT BEFORE...
AND EVEN THAT NUMBER MAY BE TOO HIGH...
AS TO HIGH END HOMES...THAT IS A CLOSED CLUB...THAT FEW CAN ENTER AND FEWER CAN EXIT...
THIS IS REALLY JUST THE END OF A PONZI SCHEME...AND ALL THE BAD STUFF THAT THAT IMPLIES...
