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The Five Waves Of The Housing Collapse

TimberTimber
edited June 2009 in Seattle Real Estate
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

Comments

  • snigletsniglet
    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.
  • SeattleMooseSeattleMoose
    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!!! :wink:
  • garthgarth
    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 :D
  • deejayohdeejayoh
    garth wrote:
    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 :D

    Sniglet has to be that pessimistic. He sold his house too early. If prices don't drop more than that, his wife will probably divorce him
  • jillaynejillayne
    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.
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