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Loan Modification

: Mortgage Lender Implode-o-Meter

Effect of Household Deleveraging on Housing, Consumption and the Stock Market

By Implode-Explode Heavy Industries

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That final wave of consumer recklessness created the exact conditions required for its own destruction. The housing bubble orgy was the last hurrah. It is not coming back and there will be no bigger bubble to replace it. Consumers and banks have both been burnt, and attitudes have changed.

It took nearly 80 years for people to get as reckless as they did in 1929. 80 years! Few are still alive that went through the great depression. No one listened to them. That is the nature of the game. The odds of a significant bout of inflation now are about the same as they were in 1929. Next to none.

Full post as published by Mortgage Lender Implode-o-Meter on May 19, 2009 (boomark / email).

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