even in a downturn the graph doesn’t come down uniformly, there are short periods where it appears things are picking up. The truth is that we have a VERY LONG way to reach the bottom of this market, perhaps another 5 years or so. In SoCal I’m very sure of at least a 30-35% decline when all is said and done. Markets always re-align to fundamentals like income and rents, that is just the reality.
When the ratios between prices, rents and incomes make sense then and ONLY THEN is it a good time to buy.
