Danger: Steep drop ahead - September 17, 2007

Danger: Steep drop ahead: "Danger: Steep drop ahead: Even if the credit crunch passes without a major catastrophe, the prices of stocks, bonds and real estate have a long way to fall."

"First, house prices may move on euphoria in the short term, but long term
they depend on family income - the ability to pay mortgages and rent. At levels
well above the normal four times family income, the market gradually loses
first-time buyers until prices break and fall back to affordable levels."

Author: "Jeremy Grantham is chairman of investment firm GMO, where he
oversees quantitative products and investment strategies."

This was the headline article on CNN Money on 5 Sept. 07.