Happy 4th of July

Enjoy the 4th!

Today, a BBQ to celebrate my Nana's birthday; but also another celebration. My best friend and his lovely wife had their first child yesterday. A boy. Since soon I shall become a father, I'm excited for them.

Minyanville points out the flaws in the employment stats! A must read.

Mish talks about ghost towns:

Since these haven't been written off yet... The worst is yet to come. This Fall for a crisis, for it to really hit the fan will take until Spring of 2009. Why? The financial system has become 'brittle.'

Bearmaster has more data on Redondo:


Bakersfield Bubble talks about how Lehmen is losing their shirts on bad investments.
I happen to agree with the comments that the next stage of this downturn will be high end properties pushed lower by stock losses:


Bubblemeter has a story on more bottom calling:
I swear... its a bunch of REIC kids saying "Are we there yet?" The true bottom isn't until 2011 to 2015. I still see 2009 having the greatest price declines. Ok, not for the areas that have already lost 60% to 70%+! But for the 'core areas...'



Got Popcorn?
Neil