Posted By:
Solomon CramerI agree, I have two mortgages (and two others cross collatoralized) on my own house. However, assuming the 900,000 figure is correct (I certainly haven't researched that number), it's refering to households as indicated, not actual mortgages.
Irregardless, on the original question. I can't imagine a market that is more fragile than the high end card market. If a few of the major players got into financial trouble...more likely in a down market of course...and no one took their place, I could see a 30-50% drop on a lot of items. On any given item/set, at a high price, how many buyers out there are really pushing up the prices? I think the market will be dictated by whether a few whales are harpooned...or even if a few new ones come in (pulling their funds & interest out of other areas).