>>Do you understand the ramifications of a 14% drop in ONE MONTH?
Yes, intensely overpriced housing is now merely overpriced and returning to a level of affordability.
Of course there’s a long way to go, since the Goobers and the Banks are doing everything to keep the values propped up.
Their very policies extend the pain. A slomo rolling crash spread out over years.
When prices were rising no one cared, the frenzy intoxicated the nation. Now DaMotherofAllHangovers.
And what of the millions who bought (now) overpriced homes and watched 50% of their equity dissipated or stolen by deceptive, illegal lending practices?
Demand was artificially and knowingly created by the Banks and our lying, thieving Legislators who insisted on lending trillions to deadbeats, bad risks, and anyone with a pulse.
Millions also took out Home Equity Loans based on grossly-inflated appraisals, never thinking 50% of their equity would be swallowed up.
When prices were rising no one cared, the frenzy intoxicated the nation. Now DaMotherofAllHangovers.
Only folks who stood pat aren't hurt directly by this, although EVERYONE is now affected.
Insider economists, financial analysts, and international Bankers ALL knew this was a scheme from the beginning. This falls directly on the head of them as well as US regulators and the GLOBALISTS.
Who ultimately picked up the tab for what's essentially "Wealth Redistribution? The American Taxpayer - NOT the Banks.
ITMT, jobs and factories are gone to China, $2 billion dollars per day wars with no mission are being waged, 0bama has rammed though a phantom trillion dollar "Stimulus" and 0bamaCare, and house values continue to plummet.
Me? I'm gonna have a beer and watch Oprah in my tighty-whiteys.