Guys you’re forgetting all the immigrants that will come in and buy $500,000 homes, and the increase in employment of nurses, teachers, bar tenders, and hotel maids that will clearly support this market to a turn around sometime early 2008.
Seriously though, I’m betting 4-5 conservatively, 7-10 non-best case scenario.
The buyer/owner sentiment will follow prices and perpetuate the correction. I honestly think we will see an over correction. Why? (asks the person who thinks people here pull opinions out of their arse) Look at the last 2 down turns, and adjust for inflation.
Still disagree? Then go buy a house today, and I’ll buy one in 4 years and we’ll see who pays more.
