“We are experiencing home price depreciation almost like never before, with the exception of the Great Depression.” -Angelo R. Mozilo, Countrywide Financial Corp. Chief Executive San Diego real estate downtown
4 thoughts on “The Truth From a Mortgage Lender”
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=Mark these words, it will be much worse that the ‘73-’75 recession, it will very likely be worse than the Great Depression, but will be a depression, a real depression. A morning’s worth of true, overall. thoughtful research will convince anyone willing to face the truth.
Ian
San Diego Tourism
Yes house prices might fall even more than during the great depression but maybe there are just different drivers and each depression will be driven by completely different circumstances. Maybe a recession would not be a bad thing over the long run.
Evan
San Diego California Real Estate
 If things do get really tough (depression like) it will be interesting to see how the generation (X’ers) handle it. I hope that our economic situation doesn’t deteriorate that much but, in hind sight we are probably due for a reshuffling of the status quo…All this said, in a way I think tough times might be good for our nation, free market capitalism has been of limited success, in which the already prosperous for the most part have managed to increase that prosperity disproportionately in relation to the rest of our society. And the current wealth gap is clearly indicative proof of this. Hopefully, no matter what the course and consequences of our current economic situation our country and society will be made better by the challenges presented by it…
Sam
San Diego Real Estate Brokers