Mock him all you want, but it doesn’t change reality. Having read his nearly two-year-old book, I can tell you that everything he’s predicted so far has come true. And I would be willing to bet that both of you are homeowners…

A very old man, a native San Diegan, told me a few years ago, that we would be able to tell the bottom of the market when “everyone knows that real estate is the worst investment you can make.”

As long as there are people arguing that now is the time to buy, before “it’s too late” I’ll wait to buy. At least until 2011 or 2012.

I don’t have to buy. But it seems there are increasingly plenty of people (and plenty of banks) who have to sell.