[quote=bearishgurl][quote=Jazzman]I agree with livinincali there definitely seems to be time lags produced by buyer and seller perceptions which affects supply and demand…[/quote]

This has always been the case. It will never change so we must live with it. This phenomenon is even inherent in *normal* markets (whatever that’s supposed to mean).[/quote]
Not sure that’s true. One big factor has been the internet and the amount of information freely available. Absent from the heated forums on RE are sellers/homeowners, outnumbered 10:1 buy buyers and fence sitters. The incentive to educate oneself seems to be higher before making a huge financial commitment, than after making it.