As I said, I still do not believe in 50% reductions.
But it is already a 6% drop since August 2007. Add the 5% inflation and get an 8% drop…
It might come a time when people won’t be interested in buying anymore or banks won’t give them money.
About cruises in Miami, I do not expect 300 million Americans to become poor overnight.
But the reality is that house prices have fallen in some places in Florida by 80% and
many places in California by 75%.