When the market hits 12000 many investors will bail. With such low prices you would think a buying spree would bring it back up but the big bank investors will hold on to their cash. It could go even lower.


The mortgage crises will stay in limbo until a new administration is in place. When the BIG Banks determine that they have gotton all the bail outs and welfare they are going to get (not much from a Democratic Congress) they will become flexible with the tidal wave of forclosures since they do not want to kill their host - parasites that they are. Housing prices will have to drop 20% Worst case scenario is a 40% drop but rare overall (banks hope its only 10%-15% drop) but some banks are not budging and probably won't budge for another 2 years.






If you need a job that will be very busy I suggest you position yourself in servicing forclosures.

such as legal, police, storage or some other creative way to supply temporary housing.

I feel sorry for folks who borrowed on a ficticious value of their home. 2nd mortagages based on ridiculous values are in the same boat as new buyers.