[quote=flu]
Anyway, it’s irrelevant of what folks I think or other folks think what home prices will/won’t go to.
I have a target range that I’m willing and able to afford a home that i want for my next purpose, game on. Otherwise, pass. I’m not going to wait for the magic “bottom” because who knows where that will end up or how long. I could be dead by then..
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Maybe you wouldn’t wait for a bottom, but if you know the price-point will move downward in a couple months, would you wait? I think most people would. Some wouldn’t.
I waited to get an LCD monitor for my computer when they first came out. Knowing they would come down in price eventually. Is it cheaper now, from when I bought mine? Sure, but I think the price has leveled off some.
When people are comfortable buying again, they will buy. Personally, I don’t think the majority of folks are anywhere near that point.
On a side note, has anyone seen the prices for houses near lake Perris? Four year old homes are in the $50/sq ft range. Can they get cheaper than that? I know it’s Perris, but still…
