You’ll know this market has bottomed when you see some “SOLD” signs going up on vacant houses. Until then, this nightmare scenario has a greater chance of coming true than a quick recovery, IMHO.
Agreed. MPT is no defense for credit default swaps. That’s my nightmare. Other folks will be affected in myriad ways. Sold signs are tangible.
Huh? A decent percentage of homes on the market in Silicon Valley in the spring of 2005 were vacant. One of many explanations for that is that smart homeowners had done a lot of improvements and had already moved into rentals.
I don't think that's a reliable indicator of a bottom in the housing market.