My original post was in response to CA Renter’s (an admitted bear since 2001) post regarding being early is not necessarily being wrong. I disagree for the reasons I have already stated.

Looking across San Diego, homes in many areas are still selling at much, much higher prices than in ’01. So the housing bear who called the top in’01 and sat it out has missed that boat. Again (and I promise, for the last time), that person could if they so desired list that house for below current comps, sell it quick and walk away with a pile of money. The guy who didn’t buy can’t do this. Which guy would you rather be?