tag:blogger.com,1999:blog-6022241666945681777.post1995610735440494903..comments2024-01-02T04:37:12.836-08:00Comments on Economic Despair: Beyond our imaginationEconomic Despairhttp://www.blogger.com/profile/15834343361456412739noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6022241666945681777.post-51387212889302013482008-03-12T20:12:00.000-07:002008-03-12T20:12:00.000-07:00I like Duncan's attempt to remind lawmakers that C...I like Duncan's attempt to remind lawmakers that California is "important" (i.e. bail us out, please!)<BR/><BR/>This downturn is going to last far longer than earlier ones, because of the massive amount of negative equity in real estate. Low or negative equity will continue to feed high foreclosures for years to come. In rising markets, foreclosures peak in year 3, because thereafter HPA provides enough equity for refinance or sale. In down markets, 10 years or more might not allow for positive equity.Strategic Investorhttps://www.blogger.com/profile/06847403858456772158noreply@blogger.com