Well, this is interesting:
That must be the sound of Lake Forest home debtors saying something to the effect of:
"AARRRRRRrrghhhhhhh, Oh MY GOD! Oh my GOD! My House Is Worth What???? WhoaaaaaAAARRRRIGGHHHHHH!"
Then there is the sound of crickets.
Or maybe it's just fence-sitters who don't trust realtors, or prospective buyers who just can't find the $100,000 down payment required to secure the $650,000 worth of mortgage financing:
And then there's the bone-crushing Alt-A Prime mortgage recasts ready to come on the scene in May and June 2009!
Are we hitting bottom in Lake Forest, California home prices?
(Graph pics from Altos Research website)
Friday, March 13, 2009
Posted by Markus Arelius at 3/13/2009 02:10:00 AM