coastalpirate

Sucker's Rally Approaching an End

Rick and to the Author, What would settle the 1930's comparison for me would be some facts comparing leverage levels, Loan to Value %, avg home price to avg salary comparisons etc, I know the un-employment rate was much higher then, but was the population and the banks levered and over-extended at differing degrees? Seemed like people saved more back then. People did walk out of their houses leaving the furniture and everything they couldn't carry, but that seems the same as the foreclosures going on in CA, NV, FL etc. Did the Banks keep more than 1.5 to 3% actual assets to cover their loans like today? Need some more data !!!