This thread got carried away in minutiae and lost the overall point.
It does seem to feel much different that the 90s downturn and has seen a suprisingly strong selling season this year. In the neighborhoods within a 2 mile radius of our house, there are very few homes for sale. The lawns are green too (not many are REOs).
It seems way too quick to have found the final bottom, but who knows. Many more people sat out the bubble than most on this board realize and they want to buy before they get priced out again. Years of watching in frustration has apparently weighed heavily on their patience.
They just want to get on with their life – to h*ll with whether there is much more of a downside.