I had a post, but it was basically just a repeat of the prior post. Basic supply/demand. We have way more supply than demand at these prices, and this imbalance can only be reconciled via either reducing the price structure or convincing the speculators that there’s money to be made in the next 6 months via an influx of more stupid buyers and stupid lenders. No upside = no investors, which means that the remaining pricing is strictly limited to how much the buyers make and their ability to service a mortgage made under conventional terms.
We all know where that level of pricing is and we already know that we have a ways to go before we get there.