But the New York Times says....

This story throws around a lot of numbers, perhaps too many for a non-tax lawyer to interpret. Seriously, folks, the predictions reported are $400 billion for the mortgage market, and a $2 to $4 trillion loss in the residential real estate market. (No mention of CRE prices that I noticed, but maybe I missed it.) Of course, I then read that the market lost more than $7 trillion "in the stock market collapse earlier this decade" (meaning, post 9/11, but I guess that it is politically incorrect to say that these days). We all know what happened there, right? The buying opportunity....why is there anything different about this? You tell me.

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