[quote=Allan from Fallbrook]
Interestingly, a lot of folks in the first camp are in RE, and I think most of them are telling themselves and others that things will improve markedly in the forlorn hope that they actually will.[/quote]

I think a numeber of the buyers that are buying right now are in the same camp as the above. I know 1 who bought and 1 who activly is looking, both because they have convinced themselves (with no small part from RE agent) that prices are in a temporary dip and will be back to 2005 pricing WITHIN the next 3 years. (ie 140k condo’s will be 300k in 2012.)