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Buy the Dip is Dead (EP.288)

Animal Spirits Podcast

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What Year Did You Bick It, Finally?

A 28% decline in home prices between 2006 and 2009 sent the value of some 11 million homes below their mortgage balances. The Wall Street Journal had a great piece on why this housing downturn isn't like the last one. Home prices this time would have to fall between 40 and 45% from their peak to put the same proportion of mortgage homes underwater today, according to a court logic analysis. Now, imagine you have a DeLorean. You can get it up to 88 and travel back, but you can only go back to 2010. Time Michael was a very depressing Michael.

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