Friday, February 15, 2008
Mish's Global Economic Trend Analysis: Housing - The Worst Is Yet To Come
Mish's Global Economic Trend Analysis: Housing - The Worst Is Yet To Come: "Subprime resets peak this year but Alt-A problems which are just as big do not peak until 2011. In addition the overall economy is slowing dramatically. There is going to be consumer led recession to deal with. Unemployment has bottomed this cycle and is bound to rise dramatically. That will further pressure housing prices in a very significant way. The worst (by a long shot) is yet to come. Remind me to start looking for a true bottom in 2011-2112. Perhaps we get a bounce somewhere along the way."