At any given point in time, there are bulls and there are bears. Bears will always call the top and bulls will always call the bottom. When you call top often enough, you’ll hit it once in awhile. Just look at powayseller’s other call. I’m still waiting for S&P 500 hitting 500. Just like the bulls calling these plateau on the down side as bottom. Eventually, they’ll be right. While the bear’s pessimism will probably miss the bottom just like the bulls who missed the top due to their optimism. I remember people start calling top since 2002. Of course, more and more people join in as we get to 2005. Just like people are calling bottom now. We’re here because we’re bearish on the RE market. It’s been a proven fact that no one can call top or bottom in any market with any consistency. We all can be bull/bears and identify the trend but calling top/bottom is a fool’s game. Just because the top is well defined this time doesn’t mean the bottom will be as well defined. What IF we have a huge drop off next year @ 30% and stay flat for 10 years. Where would that bottom be?
