Market Opinions
I’m convinced that the worst in the housing market is not behind us so mid term, the market is in for a harsh reality. I’m not sure exactly when this reality will hit though. All I know is that foreclosures are going to be much worst than everyone expects and news will start to surface in the coming months because no one is really accounting for the fact that even the higher end California market (which hasn’t really been affected yet) will start to show cracks as everyone who thought their house was an ATM machine starts to default.
I’m not saying that the Dow can’t go up to 9,000 or more before then but when everyone realizes how bad things are, the market will tank unless the government comes up with some articificial way to stop foreclosures.
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