Disclaimer: To the extent there is further CASHOUT in 2008 and beyond the Debt outstanding will grow and the asset will drop more making the 35% - 40% upper range of the estimate. Since that most likely happen anyway, the truth is my personal forecast calls for $3T left at the hand of 20% homeowners who ABSOLUTELY NEVER took a mortgage. OLD money RULES. The rest, as I have said, are HOs.
The right enemy
5 years ago