I've been to lately I'd have to say that many are hoping for a nice bounce in the Spring of 2008. I don't know what will happen then, but I do think that spring 2008 will be crucial to determining how the rest of this downturn goes. If enough sales can be made in spring 2008, then the high end areas will hold more than lots of people think. But if spring 2008 is dead on arrival, the pressure from all those waiting for a housing rebound will start to drive things down in a serious way.
Very good post.
My bet is that Spring 2008 will be a dud. Fall 2008 is when most folks will be out of "holding power" and will most likely give up, especially if we have a recession by then.
