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Kunst's
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The housing problem isn't that prices are going down, it's that they went up ridiculously and sucked in a bunch of buyers who are now underwater. The damage was done on the upside.
Jul 20 16:48 pm
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All Comments by Kunst »Foreclosure Contagion [View article]
When a tsunami hits, the damage isn't caused when it recedes.
The only "solution" would be hyperinflation that essentially wiped out those debts, and the US dollar with it. Otherwise, those who paid too much must either stick it out and pay the full price, or default.