Friday, October 16, 2009

Has Real Estate Hit Its Bottom?


Next question.

While the NAR continues to cheerlead as fools grab the falling knife, foreclosure filings go through the roof. Our President's biggest cheerleader, CNN reports that we have just finished the worst quarter of all time for foreclosures. So while obama has continued to pour millions if not billions of tax dollars down the drain, on trying to raise the Titanic, he can't out run economics. It’s a shame he doesn't have those billions of dollars to spend on one of his other pet projects.

Good money after bad is how I have seen debacles like this described. Unfortunately, this is the worst one of all time. Way to go Barry, you've continued to screw us all and just like I said, there is no way in hell you were ever going to salvage the foreclosure constituency. And now, the price is just that much steeper and we're miles away from market stability.

If you see prices going up, there is a name for what your seeing. Its called a dead cat bounce.

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