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This is amazing.
“There is no distinction between subprime and prime. When your home falls 20% that distinction goes out the window.”
We’ve been saying that for months. Thanks for finally getting the word out Jim.
Hat tip: HP and HD - great find!
Can’t believe I’ve turned into a JJC apologist tonight but-
To be fair, the segment that this occured in was a thought experiment where he was presenting the worst case bear argument. Before, after, and several times during the segment he noted that this wasn’t his actual opinion as to the current state of the market.
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