Sun 2008-05-18 00:00 EDT

Mish's Global Economic Trend Analysis: Mike Morgan: Decession or Depression?

"nventory of homes is now beyond a two year supply and growing, while prices are falling off the cliff." "at least a third of todays builders will be bankrupt within the next 18 months."largest source of inventory is the homes moving through the foreclosure process" "The snakes have moved out of the mortgage business and into the REO disposition business."

Decession; Depression; Mike Morgan; Mish's Global Economic Trend Analysis.