December 9, 2024

housing marketOn 1/19/09 Bill Fleckenstein (president of Fleckenstein Capital, which manages a hedge fund based in Seattle) said: "The current bust is a direct consequence of a boom, but not an ordinary boom. It was a credit/real-estate bubble that caused a misallocation of capital of truly biblical proportions. Thus the pundits who think there will be any return to business as usual in the second half of 2009 are going to be very disappointed."                                                       San Diego real estate

 

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