lordmandeep
Banned
lol...
"real estate only goes up!!|
That scene in downfall is just classic..
"real estate only goes up!!|
That scene in downfall is just classic..
Inflation?
RE values will go down b/c affordability will be strained, and individuals will put money into other assets that achieve returns with much less risk.
International trade plunged by half to two-thirds, as did personal income, tax revenue, prices and profits. Cities all around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries. Farming and rural areas suffered as crop prices fell by roughly 60 percent.[5][6][7] Facing plummeting demand with few alternate sources of jobs, areas dependent on primary sector industries such as farming, mining and logging suffered the most.
This mess is far from over.
That's a little too negative to say it lasts 10 years
http://en.wikipedia.org/wiki/Recession#History_of_recessions
It seemed to last 8 months to 2 years in the US.
The great depression lasted 10 years from start to finish across the world. But some starting later ending later and starting earlier ending earlier it's less than 10 years in a country I would think.
http://en.wikipedia.org/wiki/Great_Depression
There's a wave of ARMs coming due for rate adjust in 2009/2010 in the US.
Hi CDR,
Do you have links/info regarding to how big is that ARMs wave?
Ken