[quote=ralphfurley]
Maybe you wouldn’t wait for a bottom, but if you know the price-point will move downward in a couple months, would you wait? I think most people would. Some wouldn’t.

I waited to get an LCD monitor for my computer when they first came out. Knowing they would come down in price eventually. Is it cheaper now, from when I bought mine? Sure, but I think the price has leveled off some.

When people are comfortable buying again, they will buy. Personally, I don’t think the majority of folks are anywhere near that point.

On a side note, has anyone seen the prices for houses near lake Perris? Four year old homes are in the $50/sq ft range. Can they get cheaper than that? I know it’s Perris, but still…[/quote]

There’s a huge difference. You could in theory do without an LCD monitor.

On the other hand, you can’t do without living somewhere. Your choices are either to rent or buy. There comes a point when it’s a wash…. if your savings starts getting eaten by inflation (we have none right now) + expenses from continuing to rent stacked year after year waiting for a trickle down + how well you manage your cash off to the side while it’s not being used.

By all means, this isn’t advocacy to go out and buy…But it’s not an apples apples comparison. Unless you’re comfortable camping out in your car or your place of work, if you’re not spending money on your home, your spending money on rent and vice versa. So in essence, the clock is ticking.