I agree wholeheartedly with BobS. There is no way this is going to be a “V” shaped bottom. The market is not going to just bounce back like many hope.
Not many want to purchase at this point because of fear and even if they did, the credit markets are broken so getting loans is very difficult even for the best credit scores.
Intelligent buyers are waiting this one out to pick through the debris of the massive yard sale (wipeout) this market is going to have.
There will plenty of time at the bottom of this market to pick up nice properties as BobS states. The time to purchase is when there is very little interest in purchasing. That my friends is full capitulation and the time to execute your buy orders, just like on Wall St.
