The problem about looking at a graph for a bottom is that it can be different everywhere. The bottom in Mira Mesa may not be the same time as Carmel valley’s. The other problem is that the bottom is a time when someone buys a certain house at a certain price and that may or may not be you.

One of my clients is the fiercest bear I know. Far more negative than any of you. Nonethelesss we go out from time to time to look at houses. In over 2 years, he has not found a single home he liked enough to buy whether it was priced right or not.

When I looked at the the 3 tiers they were all in alignment in non-bubble times and wildly out of alignment in bubble times. While I dont think we are at a bottom, seeing them in alignment gives me moment for pause that we may not be as far as I would have thought.

The problem with all your answers is that they are absolute. The world has never worked that way in the 45+ years that I have roamed the planet. Gray areas, blue areas, pink areas but very little black and white areas.