urbansurvival

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    • Tue Jul 22nd 14:10 PM
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      Financials: How - And When - We Reached the Bottom
      Wonderful pipedream! Here's the reality: Housing loans over long periods have been 2.5-2.8 times household incomes. They have recently been as high as 4.5 times. As they revert to the norm (and may even overshoot on the downside) we'll be in what you'd call a Depression. Sadly, this is like calling the bottom in the summer of '29, I expect. Time will tell, but 7,500 on the Dow by Christmas seems a decent bet, although almost certainly before 2010.
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