R DeNiro you made the right move. Unless you wanted to sit in the condo for a few years, I think you did okay.
In general I do not agree with the forecast at all. I do not see what factors will stimulate a reversal of the market in the mid 2008 timeframe like these guys predict. Even if they used the previous 2 historical downtrends they need 6 years to shake out… There are to many wildcards here to make such a prediction and I just don’t see how they can overlook them.
I would like to see a more definitive explanation on how the inventory will be reduced, (what sort of uptick in demand will reduce the supply) and how the rise in foreclosures will be not only remedied, but how that will not affect pricing of non distressed property. Furthermore I would like them to explain how the tighter lending standards will not prohibit demand. (Although to be honest with everyone here I think that these supposed tighter lending standards will be enforced meekly at best)
Again, it would be nice if these studies and forecasts had more concrete reasoning behind the conclusions. To simply tell me that okay the depreciation will end in 08 or 09 just doesn’t cut it. Tell me why it will end and show me the factors that will reverse the trend.
