“People with assets in reserve and a credit score of at least 680 should buy as well. Anyone with a credit score less than that will have to verify their income.”

To me this is further proof that faith in real estate is not fully shattered yet. Sure it’s this guy’s job to sell mortgages, but the fact that his comment is presented as credible, particularly given the “verify their income” line, tells me there is still air in the deflating bubble.

Coming off the euphoria that real estate goes up forever I don’t see a bottom until the prevailing sentiment is unequivocally against buying.