Jain Predicts Silicon Valley Housing to Fall another 60% or More

According to Jas Jain, the price of housing in the Silicon Valley of California has another 60 to 70% to fall.

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-------- Original Message --------

Subject:	Re: Deflation or depreciation?
Date:	Thu, 19 Nov 2009 06:51:30 -0800
From:	Jas Jain

FWIW, my forecast of ten years ago was: What we have witnessed in Detroit Area (high tech area of 1900s, 1910s and 1920s) for the past 20-30 years would be witnessed in Silly.con Valley, home to the clueless in America.

The fraud-based economy would disintegrate during the Greater Depression. Dopes in Silly.con Valley are complacent because they have been saved by various bubbles supported by debt, but that game always ends very badly. Housing prices in the Con Valley have 60-70% further to fall.

Jas

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> http://www.detnews.com/article/20091117/METRO/911170327/1411/METRO02/Silverdome-sale-price-disappoints
>
> Good grief, that's a negative 13.9% annualized return! Detroit just can't catch a break. I thought real estate always went up? What gives?
>
> Oh well, it's obviously an isolated event, just like Japan. That kind of thing could never happen in my hood. Besides, real estate is the foundation of our money supply. Bernanke would never let prices fall.
>
> All kidding aside, the massive deflation taking place in Detroit highlights the theft that finance has perpetrated against America. Detroit's losses are the gains of the inflation shufflers in NYC.

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