The phrase “buyers market” (as used by NAR) means that sales volume is slowing and sellers are getting desperate. The NAR will repeat as necessary to encourage buying. Get used to hearing it more and more as RE drops 5 to 10% per year. NAR will declare a “great buying opportunity” all the way down.

I heard Ben Jones on the radio with Rich yesterday, and indeed he is right. It is a renter’s market. Unfortunately, mathematics education in the US is so poor that people don’t realize that renting a house for 50% of the cost to own the exact same thing is an awesome deal. They are getting a tax deduction by owning, you know! Ha ha ha. I have a really good deal for anyone who wants to take it: You give me a dollar, and I will give you 30 cents back! Ha ha ha.