“True, some buyers which (sic) bought at the top of the housing market are hurting. But for the vast majority of homeowners, perhaps the adage “house prices have fallen to levels most never thought they would get up to” is most applicable! Is a mild decline in house prices after years of record-setting advances really that destructive for most homeowners?”
– Wells Capital Management, Economic and Market Perspective, September 2007 (pdf file)
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