Some people thought I was a little out there predicting a 25% decline for US housing last summer. It wasn't that tough to do. Neither was my call for a decline in Chinese equities of 70% last summer, we still have 20% to go on that one.
On that cheery note check out Moody's latest.
- Default rates on mortgages will fall to normal in 2012-2013. Thats only 1,300 days more to go.
- Within 1 year, 1 out of 4 prime borrowers will be in negative equity.
- Anticipated bottom of the housing market is 25% decline in spring 09.
