[quote=davelj][quote=Mark Holmes]It’s just amazing to me that anyone who is somewhat informed would be calling a bottom now. It would fly in the face of all statistical, historical and common sense evidence. The real estate boom that just ended, the biggest in San Diego history, will be followed by a bust of commensurate size and duration. Every boom was and is followed by one.
An 85-year-old, wealthy, lifelong San Diegan told me at the peak of the market that the time to buy would be when everyone knows it is a terrible time to buy.
My guess is that sentiment is still 2-4 years away.
But good luck to all buyers…[/quote]
I don’t see anyone calling a bottom here. It’s just that sometimes the last 10%-20% isn’t worth waiting for if there are non-financial considerations and the price available today isn’t eggregious.[/quote]
Yes, but my point is prices could drop, easily, another 30-50% before we hit bottom in 2012…
