Facts do not matter here, either.
I am tired of trying to explain how and why the worst is yet to come — certainly locally, probably nationally — in the real estate sector. With one in every 136 homes in foreclosure, how could it be otherwise?
I will say that the lingering collapse will significantly blunt any partisan advantage the GOP expects to have in the 2010 midterm elections. There will be additional bailouts and attempts to prop up the system, probably by Q2 of 2010, and many Republicans responding to the construction and developer lobbies will support them.
Me, I got my 30-year fixed at a stupid low rate. I suggest everyone within blogshot do the same ASAP and then just sit back and watch the carnage. There is nothing we can do for them now. We tried.
