BANKS ARE STRANGE INSTITUTIONS
Banks are strange institutions, they lend money on the bass of valuations on properties they have never seen to people who are speculating, in effect lending great amounts of money to someone who is gambling that a bull market will go on forever.
Of course everyone knows that investing is a form of gambling with the banks operating as the house. Well it has been proven again and again in Las Vegas and in Wall Street in 2008 the “house” can go broke too. Show me a sure thing and I think I have a bridge you may be interested in.
With the projected fall of 15% in the value of the housing market the banks are suddenly looking to see where the banks money went vis a vis valuations. Banks are as stupid as a bag full of hammers and to expect them to look after you in a buy buy market when it becomes a sell sell market is stupidity supreme. Bears eating bulls YUM!