Nice one jp. When we bought back in 09 I said that I was prepared for a 10-20% price drop and I think that has already happened for our house. Thus, we are locked in for at least the next 10-15 years. Good thing we like the house. It is one thing to expect the price drop and see it happen. It is another thing to see the price drop happen and then see that the market is still searching for a bottom.

As one poster said on this board the sentiment is just so negative right now it seems like the opposite extreme of what we saw in 2004. An inverse bubble if you will. I tend to believe that we are entering the over-correction phase of this downturn and those buyers that held out are in a fabulous position to score a deal. This is starting to remind me of the spring of 2009 in the stock market although things are playing out in extreme slow motion by comparison.