[quote=ocrenter]thanks Russell for ‘accidentally’ bumping this up, I would have missed it otherwise.

I was one of those that doubted powayseller when she claimed 50% off peak back in the days. since then I’ve jumped on to her bandwagon and am very glad I did.

we ended up buying at 45% off peak, and I suspect a lot of folks out there will have a hard time justifying additional waiting time by the time they get to 40-45% off peak. this is why the last 5-10% of the decline is going to be dragged out significantly longer than expected. in other word, the pragmatics are going to ruin it for the diehards.

btw, 50% only applies for SD/OC/LA in general, the IE is another animal and I suspect 66% off peak to be true bottom. [/quote]

I missed you post while being a meanie to sdr. The main thing is that it worked out for you. I am glad it did.I meant for this line of questioning to be fun.

I am guessing you are correct with the comment about pragmatics.Not for more expensive houses though, I think it is certainly worth waiting a few years there. Still bearish enough to see more declines and glad that there are some really good bears around here still keeping things balanced.If I understand correctly, some are predicting a twin or repeat, down leg!