Hey Arnie... good to hear from you. while i expect to bounce in this area of a few months duration, it should be capped by end of sept levels and make a beautiful short to current or lower levels. the economy is farked and there is nothing to bail it out this time as consumer is tapped, houses are without equity. fed is spending their asses off only to hold things in place for a few weeeks. im just trying to increase net worth to dump into arizona real estate which was the master plan from 2006.
i still remember all the folks that thought i was crazy when i talked about lending standards and refi activity. well the house of cards came tumbling down and honestly it is worse than i ever imagined cause we arent done with the ugly (economy wise) yet. I remember saying to someone (ihub search feature not working good enough) that i didnt think it would rival the great depression but it was a possibility. well, when all is said and done...it could and that is scary as hell as i dont want to own 10 rental houses that no one can pay rent on.
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