Score one for Marin Real Estate Bubble!
Marin Real Estate Bubble: It's Faster This Time?: (stolen from Housing Panic)
Actual quote from a lender insider: "Look at all the housing bubble blogs there are with all the reliable data they are providing. It's almost an avalanche of data supporting why all but the most ill-informed should not be looking to buy for at least 2 years."
Marinite scored a big fish commentary from the former marketing analyst for RTC REO at Home Fed Bank.
just a snippet from the marin real estate bubble's scoop...
"some people are going to become very alarmed and very angry when I discuss what happened the last time.When I left the RTC at HomeFed Bank in 1991, the RTC was in the process of closing down. It was the tail end of that cycle.While at the RTC, I personally sold bank REO for 20%-30% of what it appraised for just two and three years earlier. Not for 20-30% less, but 20-30% of that real estate's former value from just 2-3 years earlier."
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