“Do people want to know when the bottom is printed in the bold headlines in the newspaper or have Rich post it up on a thread so they won’t be afraid to buy?”
No, because it will be telegraphed long before that point. Have you not paid attention to Bug’s posts??? And please don’t respond that the rebound will happen so fast that we can’t take advantage of it. I will laugh in your face if I hear that.
“Maybe the problem comes from most piggs wanting to buy in fancy areas which haven’t outright crashed?” Yet….;0. No really, so what if it is? Again I’m kidding. Actually, it really that anyone who truly understands the Big Picture simply doesn’t want to to be burdended with a large debt on an overpriced, illiquid asset that requires significant amount of maintenance in a Deflationary environment for the next several years. Why would I want to put my family in financial jeopordy?
Rustico, it is still about affordability in the long run. The bottom line is that decent housing stock in SoCal is grossly overpriced relative to local income levels.
