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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: saveslivesbyday who wrote (133491)7/13/2008 6:36:08 PM
From: Peter VRead Replies (1) of 306849
 
When the masses are convinced that we are nowhere near the bottom, that's usually the bottom. It's accompanied by a feeling of utter despair, which I don't think we have come close to yet, we are still in the fear stage.

Around here, most home sellers are still clinging to their high asking prices. I know it's a different situation in many parts of the country, Sacramento could be nearing a bottom because they have been totally rocked. By and large though, the coasts have not been hit very hard, and I'm waiting for that before I own a house again.

If the economy continues to deteriorate, housing cannot recover, no matter how far individual market have fallen.
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