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House prices crashed in 1927

House prices crashed in 1927 and didn't come back until 1954. This time it will be worse. There is no engine for jobs and the US Government is lending on 96% of all residential mortgage dependent purchases. The SAFE Act, which is part of the Dodd/Frank bill, will make owner carry mortgages all but impossible. Believing that the market will come back is little more than magical thinking.

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