Is It Soup Yet?

Posted 2007-05-13 20:32
by Karl Denninger

Gee, you think people might be getting the message about the Housing Mess?

"At the San Diego sale, houses and condos typically sold for about 30% below the previous sale or appraisal prices. In a few cases, the discounts were around 50%."

But this is all contained to "subprime", right? It won't hit the greater economy, right?

And it also won't hit the appraisals of every home within a mile of one of these sold at auction?

Pull the other one.

PS: Gee, it looks like people are waking up! Finally.

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