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The 800-Pound Gorilla On The Housing Market’s Back
I could almost hear the collective groans of disbelief as soon as readers read my forecast.
It was a column I wrote almost three years ago, warning about the impending U.S. real estate crisis and projecting that home prices were set to tumble by as much as 40%.
Turns out I actually under-estimated the scale of the bust. Prices have fallen much more than that in some areas – and may fall even further.
The are obvious reasons for this. The economic recession. The evaporation of available credit. A huge increase in unemployment. And, of course, the mere fact that the housing market had…
30Jun2009 | Smart Profits Report | 3 comments | Continued
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