Thursday, April 12, 2007

Bloomberg: "Heebner Says Home Prices May Fall 20% Amid Bad Loans"

Crucial words in the quote, missing from sensationalistic headline: "... in some markets, he said."

Big difference! Seriously, even if the prediction is correct, wouldn't it just be a case of reversion to the mean? Really now, home price shot up so much, so fast, well, wouldn't you expect some likelihood of this? Remember all the articles about the "real estate bubble"? Bubbles pop. Worldwide

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