HereWeGo, there won’t be any moment of panic. Air will come out of this bubble ever so slowly. Just check the last downturn, in 1990-1996. In this one, the speed down is faster, but we have a lot further to go because the run-up was much bigger than last time. So it may take about as long to fully deflate.
I agree with Ex-SD that many sellers will retain hopes of a rebound during most of Spring and Summer. By Fall, the stragglers will begin to realize that there will be no lasting rebound for years. By then, we’ll see fewer stories of a “bottom next year”.
