For Those Still Coming to Grips with the Deflationary Correction in Housing
When you hear the terms “short-sale” and “foreclosure,” think correctives (or “property price correction,” to be more specific).
If you happen to love shopworn argot, feel free to call this the “pricing in” of a corrective tsunami now preparing to swamp real estate, stocks, etc etc. However, it may be clearer to think of this as pricing out a decade of Freddie/Fannie/Fed-stoked bullshit optimism that was already “priced in” by equity speculators galore.
Please watch the following. I’ll give you time to think them over and then comment.