Real Estate Bubble End Game

Housing Panic sums up the real estate situation depressingly well...

So how will it all end?

• Millions of unwanted homes will continue to flood the market, sold by regular folks, people in foreclosure, investors, flippers, homebuilders and liquidating banks.
• Sales volume will continue to plummet, as people know for certain a home will be worth less, significantly less, the longer they wait
• Millions of REIC-connected individuals will lose their jobs - real estate clerks, appraisers, mortgage brokers, builders, Home Depot salesmen, etc.
• The overvalued loan bag-holders (China, hedge funds, Fannie, Freddie, Countrywide, etc) will be devastated
• The cash-back, cash-out-refi based US economy will suffer a great blow, with effects felt worldwide
• The House and Senate will launch investigations in 2008 to soothe housing-crash-victim voters. Significant new regulations and oversight will be created, mistakes and fraud will be addressed, and the REIC will be brought to heel
• And finally, years later, homes will again be places people live, not get-rich-quick schemes and lottery tickets