I made the same parallel between Real Estate and Iraq a thread a while back. I’m a liberal too and I always supported bringing democracy and freedom to people around the world (like we did in Kosovo and like we should in the Sudan). With Iraq, I felt like the Bushies were using democracy as a guise to dominate the Middle East and particularly send a warning to Saudi Arabia, Venezuela, Russia and other oil producing states. The situation is broken now and they are like the gambling home-sellers hoping for a summer surge. Fat chance it’s gonna happen.
I agree with you that most homeowners are still in denial. The current buyers are also in denial and hoping for a rebound. There are few buyers with wherewithal (like you) who are buying now. They either already own or won’t buy on appreciation speculation.
I could buy now, but I’m not going to until the price is right.
