The Five Waves Of The Housing Collapse

[Timber]

I found this article pretty interesting and it shows that Seattle is still clearly in the beginning of the cycle with no rebound in sight.

http://www.businessinsider.com/henry-bl ... pse-2009-6

[sniglet]

I agree with the premise that the housing price decline isn't finished. However, I think the additional 10% to 15% drop the article's author suggests is wildly optimistic. An additional 60% or 70% drop (in the Seattle area anyway) is more like it.

[SeattleMoose]

Hey, how come this report was not on the local news?

In fact, I just heard on KOMO news this morning that the recession will be over by the end of the year!!!

[garth]

The mainstream media does not pick up much of what henry blodget says, as his credibility is pretty limited.

Lucky for us singlet we have you to be wildly pessimistic

[deejayoh]

[jillayne]

There's a sixth wave.

It's all the homeowners who received and are trying to receive a loan modification.

50% re-default by the 6th month mark.