Best time to buy: 11/2008
Best asking price: down 40%
Reason for best time: Major ARMs resets happen throughout 2007, and it will take a while for people to get their heads around their personal finances. Many will hold on through summer, because they’re hopeful. Going into winter will cause the panic.
Reason for ask: Draw a line from 1995 prices, on a log scale that corresponds to 8% appreciation. Build in overshoot.
