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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: gladman who wrote (67373)11/28/2006 3:39:33 PM
From: TradeliteRead Replies (2) of 306849
 
<<there's a 10% drop in median price then the gain is still 90% over a 5yr period.>>

Yep, you just mentioned a fact constantly overlooked. As I've said on this thread before (and probably been ridiculed for saying), just because you've been traveling along at 200 MPH and suddenly slow down to 100 MPH, you're still speeding.

Also, I'll restate another point that will probably result in ridicule: At some point, the cork pops off the bottle, and buyers who are waiting and wanting to buy a home just get tired of waiting and go ahead and buy, especially if they see that prices have come down a bit.

So when NAR's heavily-ridiculed economist says a price drop is a good thing, he's speaking the truth. Prices needed and may still need to come down. Demand for homes is still out there. Ask any real estate agent how many prospective buyers they know who are out there kicking the tires, biding their time, but who still want and need to buy.

To make a real estate sale, it takes a ready/willing/able buyer. There are plenty of ready/able buyers. The fact that they haven't been willing to buy will be resolved when they think the price is right. So let's hear a round of applause when prices drop enough to pop the cork off the bottle of demand.
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