Monday, January 28, 2008
Finally the media agree with what we’ve been saying for years
It is clear now that the housing market has peaked and has begun to fall over the past few months. But, rather than fearing price falls as the beginning of the housing market's equivalent of foot and mouth disease, they should be welcomed. A sharp correction is needed. This will hit owners who have bought in the past couple of years - who could face negative equity - but it may be a necessary cost.