As a buyer I can only hope for the beating we have been hoping for. I was just looking at inventory in 92131, 92024, 92064 and 92007… It is depressing to see first off what is out there and second what sellers are thinking, especially in the 700k-1.3M range. There is buying activity though.
As an agent I am consistently surprised and befuddled at where people continue to gather income.
I absolutely agree that this will be the year that the two forces collide. The collision of the largest social jobs program and bailout of ALL businesses that this country will ever see verses what could be double digit unemployment. With all that I still do not even begin to think we will see the big chunk drops people are wanting to occur. Sticky on the way down will continue for the next few years is my opinion still. Hopefully some sporadic moves will be nice.
I also would encourage people to read the posting by Rich commenting on how the government will fight tooth and nail to prevent deflation.
