Top economist: Roubini predicts 2 year recession !!! (mortgages, money, banks, job)
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That sounds about right. Most housing bubbles take as long to clear out as they did to inflate. This started ~2001 and lasted to 2005. 4 years. Clearout should be over by 2009-2010. If you look at the bubbles on a graph, they LITERALLY look like bubbles because of hose symmetrical they are. So, this inflated housing bubble cause the big fallout of Wall St and banks and is slowing down our economy. It's about time home prices sink to the CPI so we can move forward.
That sounds about right. Most housing bubbles take as long to clear out as they did to inflate. This started ~2001 and lasted to 2005. 4 years. Clearout should be over by 2009-2010. If you look at the bubbles on a graph, they LITERALLY look like bubbles because of hose symmetrical they are. So, this inflated housing bubble cause the big fallout of Wall St and banks and is slowing down our economy. It's about time home prices sink to the CPI so we can move forward.
Unfortunately, you won't have a job and your money will be worthless by then. This isn't a bailout, it's a sale out. Both our Obama and McCain have pretty much turned on us. You'll see vacant houses everywhere by this time next year.
My grandfather told me that in the last depression the banks begged people in Brooklyn New York to stay in their homes even though they could not make their mortgages. This way homes would not be vandalized or lived in by squatters. When the economy improved they could begin to pay again. Its not a bad idea.
If you want to get some timing insight on this, google k wave and long wave and do some study. The winter cycle is aprox. 20 years, 3 to 5 down and then sideways.
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