Ooops, just being facetious.
Submitted by bearlee (not verified) on Sun, 03/16/2008 - 5:33pm.

Ooops, just being facetious. I am a regular on Clint's blog. I think we are in for some really ugly times ahead of us. I have to admit that I almost cried when I heard about Bear Stearns and I don't even completely understand the financial markets, I'm just a lowly nurse, but I do know it's ugly when they make comparisons to financial events that happened in the early 1900's! I predict the condo market will get hit the hardest w/ 40% mark downs and single family dwellings around 15-20%. I have been closely watching the condo market w/ the SoWa as a pet project. The John Ross has been move-in ready for a year and still just over 55% sold. The Pearl is another point of interest. Current estimation of 2,000 condo units coming on board in the Portland area with few qualified buyers. Prices are way out of whack with incomes and the crazy financing is gone. Down payments will become the norm again and for good reason. Portland is not immune. And I am sick and tired of those in the RE business down playing the size of this economic disaster.

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