JPDD

The Consequences of Another 10% Housing Price Decline

<i>Those who hope that this would make homes more affordable need to think carefully. If home prices do decline by this much, it is likely that they still won't be able to afford them as there is a good chance that they lose their jobs,</i>

It simply does not matter what we "hope" for. Anything that can't go on forever, won't go on forever: And house price-to-income ratios were (and still are) unsustainable.

So prepare. To quote our oh-so-esteemed US president, "This sucker is going down."