Patience has taught me that the waiting game takes on an entirely different complexion, if you add the condition ‘unless’. Unless the market corrects to an acceptable level, I will seek alternatives. That removes the uncertainty of “if and when”, which gnaws away at our sanity. For many, I guess ‘alternatives’ are a palliative and not a cure, or they are simply not palatable.

If it wasn’t for the internet I wonder how savvy some or most of us would be. Maybe a portion of the people who are still buying are those who don’t have the time to research the market as thoroughly as others. But I defy anyone to stand back from the situation and given the facts, not question whether paying more than something is worth is rational. If I said in 2009 you will have to pay $50,000 for a $25,000 car, I wonder how many people would accept that unquestioningly.