bearvine, I am checking out Morgan Hill as well, and I am not a real estate expert nor do I play one on television. $75/sq foot would be awesome, no doubt about it. But the problem I see is the possibility that hundreds if not thousands of fellow bubble sitters might be scoping the same property/area at the same price point and if all collectively agree that “the bottom has been reached, let’s go out and buy” doesn’t supply and demand kick back in? Unless you anticipate such massive inventory that this will not be an issue. Isn’t the key to getting the property you want to be a half-step ahead of the bubble sitting herd and maybe buy in at 85 instead of 75, or is that “knife-catching?” Or what if 75 is never reached, at what point are you prepared to acknowledge a bottom and get back in? The problem I see (and maybe you can educate me) is that when everyone collectively agrees it’s the bottom, then its already too late to get the property you want?
