Anx, on average I agree with you. Its just to coax me out as a buyer right now, thats what I would have to see. All I am waiting for really is that the median price has moved below the long term trend line of appreciation. That will happen and I will stake my claim to it. San Diego has always been less affordable and probably always will be so, than most other places.
That being said, everytime we have a major housing drop, the median falls below that long term appreciation trend. Thats the actual buy signal for me. Jumping the gun so to speak just requires the deal to be bullet proof, which is why I say it seems far to early to bite.
At the very least 2007 is going to be a VERY good year to us bubble sitters, unless some exogenous event occurs. Why commit early when its pretty damned obvious 07 will say a big rise in foreclosures, number of units on the market and corresponding drop in prices.
