underweight wrote:Another buying opportunity if this comes out to be true. Is this the reason why markets internationally are down?
In my opinion and if you look at the history of the market for the past 60 yrs, there is a seemingly noticable bubble-bust every 10 to 14 yrs that blows the markets out of proportion. Credit crisis late 2006 to now, tech bubble-bust late 1990s, oil market bubble bust early to mid 80s and you can go back for years and look at it.
However, the difference between this and any other bubble bust is the underlying asset, house. The bright side is, the banks already have written off close to $20 billion in bad loans and another $20 billion will be written off this fourth quarter but unless another industry surface that is bubbling we might have to suffer a little longer.