The second example you mentioned is about 14% drop from the top (including upgrades) if they get $799k in today’s “stable” market.

Thinking over the Professor’s prediction, I beleive that 25%-33% drop in the overall market is reasonable. But that would also mean 50% drop in many areas. I’m waiting to see how this turns out.

Diego, yeah they saved rent… but how much interest and property taxes and HOA did they pay? I would think more than rent for a similar property.

I might also ad that people also go crazy and buy all kinds of furniture and stuff for their houses, stuff that becomes garbage when they sell. I completed re-did my house from furniture I purchased from craigslist. I’m very patient and and only buy at give-away prices but I’ve gotten some super deals. Of course you have to be VERY patient and buy only want you need or really want.