More supply than demand. When all those houses go up for sale there will be so much selection that prices will have to drop. Who didn't see this coming though? Common, all those stupid saps that rushed out to get a loan they knew they couldn't afford were just asking for it. Lets see, you already have bad credit because you're overextended, I know, borrow more money!!
I hope to buy my first property some time in 09. I bet by then the prices will have hit bottom.
I don't see the connection to war by the way. Banks have lost billions in this deal, this was just stupidity on all sides.
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