NYT: No End Yet for Downturn in Housing, New Data Suggest

alanhart, i found the following fascinating:

http://www.housingwire.com/2009/04/16/overwhelmed-illinois-court-postpones-foreclosures-until-end-of-august/

This implies something fairly awful for many housing markets. An amazing foreclosure shadow inventory.

The "warmed hopes" of economists and investors for a market turnaround based on a blimp in the numbers last month is laughable. Did they forget about the 600K jobs the economy continues to shed every month? Where do they think these 600 thousand people live? Tents?

Idiots.

How quickly they forget. Manhattan RE took FOUR YEARS to bottom after the 87 market crash. And that crash was not as severe (and market was UP for the year) and there was not the same economy impact.

All cash baby... I missed the 30% run up but have no illusion we will not test 6500 :)

I hammered at Citibank representative for charging me a "acct" maintenance fee... the logic went... I give you money to keep it safe, you lend like idiots and lose all this money, then in order to make up for it start charging crazy fees while my tax money keeps you afloat.... I got my money back :)