risk off....gold up, page-138

Skol, you should spread your reading a little.

Have you heard of the housing shadow inventory. The banks are holding millions and millions of properties on their books they refuse to put on the market - as it will kill it.

Skol, I read some 'on the ground' reports of people going block by block in GOOD suburbs in Florida. Empty houses, but not for sale. This is not just a bit here and there. It is common. So the housing crisis is not over.

And!!!!!!!!!! Interest rates for 15 year mortgages are what... 3%?

So Skol, whatever the price of US real estate NOW, it is propped big time by continual hiding of the real inventory AND the lowest interest rates on history. And the man in the street not trusting the govt long term... so they do not commit long term.

So Skol, one can argue the housing prices are about as high as they can be... and only have one way from here... more down.