Hey Chris as far as sentiment is concerned I can see your point on the stock market here but not so much on housing regarding this board. The thing I would be watching for is when the guy on the street becomes uber bearish on housing. This board is not your typical guy on the street general public. Many of us were all growling when joe public was drunk on the bubble. That euphoria they were bathing in was the market top. When those people are cranky and bearish will mark the bottom regarding sentiment. RE cycles also take much longer than stock market cycles so these people may be upset about housing for a prolonged period. Here is what I would watch for on this board, long time posters who were growling at the top fading from view. These are the people that have been ahead of the curve.