tag:blogger.com,1999:blog-6492542366661862113.post665249674953098963..comments2023-10-31T01:32:09.169-07:00Comments on The Housing Time Bomb: Legendary Builder Eli Broad expects an additional 20% drop in home pricesJeffhttp://www.blogger.com/profile/04450070920047311928noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6492542366661862113.post-32123527647666700432008-04-28T17:49:00.000-07:002008-04-28T17:49:00.000-07:00MintonI know its going to be ugly. Good luck with...Minton<BR/><BR/>I know its going to be ugly. <BR/><BR/>Good luck with the recovery chart. Let me know what you come up with. I have no idea how to predict that. <BR/><BR/>The only thing I can compare this to is Japan and they are 20 years and still not back to where they were. <BR/><BR/>The Nasdaq bubble is 40% from its highs 7 years later.<BR/><BR/>Its going to be at least a decade for housing to have legs and longer for prices to get back to where they are now IMO<BR/><BR/>Flipping is done and won't be seen again in my lifetime. The lending products that gave people the opportunity to flip are gone.<BR/><BR/>Any flippers that are left are the suckers buying falling knives.<BR/><BR/>Its gonna be ugly Minton!Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-87257353402288837672008-04-28T17:18:00.000-07:002008-04-28T17:18:00.000-07:00Once again, I find this fascinating that it's not ...Once again, I find this fascinating that it's not headline news (although the Austrian-family-in-the-basement-thing is pretty awful).<BR/><BR/>20% PERCENT spells not only recession but downright destruction - goodbye to the last 20 years of growth. Think about the knock-on effects to lending, bonds and... well, everything.<BR/><BR/>On your comment about 'sell it now' - I agree, but it's probably too late. Most folk probably have to suck it up for the next five years if possible.<BR/><BR/>I'm thinking of working out a chart on a realistic recovery time, btw, since I suspect using the standard income-to-ratio formula could force recovery to more like 4-5+ years.<BR/><BR/>What do you think the GOP will do in their next term?James Bhttps://www.blogger.com/profile/13052914767131527583noreply@blogger.com