As a percentage, 30% probably registers with a lot of the bears because that’s the point most people would associate with a bubble market and it’s demise.
Remember, the bulls first said that the trend would not correct at all, but would just level off for a couple years and take off again. The New Paradigm. Later, they revised that line into the “Soft Landing” wherein pricing would ease back by about 10% or so, level off for a coule years and then take off again. Meanwhile, the bulls gave the bears a lot of grief for even considering the idea that the market would eventually correct to the long term trend.
Those BS theories have now been proven to be completely unfounded and unwarranted.
It’s now obvious to everyone that there was no New Paradigm, and only the most diehard bulls would say the Soft Landing has a ghost of a chance. So yeah, you’re going to catch a sense of vindication from the bears going on here and there.
