I appreciate all the analysis. I agree this is somewhat of a guessing game. I will admit though that my sentiment since the last downturn is dramatically different. This housing market has affected the entire global economy throwing many of the past cyclical ideologies out the door.
I really don’t believe that we can chart anything with the stock market or real estate market at this point due to so much global involvement. I don’t think it would be far fetched to prepare for a few more catastrophic economic events in this country. Many are fear based and run off emotions therefore the chance of things getting much worse before they get better seems extremely possible.
I am blessed to be cash rich and have always lived within my means. That said I still believe those who made the poor choices in this country are the ones who will thrive. I don’t want to change the topic here, but the bailout of GM and Ford make me sick to my stomach. Another round of bailing out those who deserve to fall! When this market turns around the question might be “Why buy a home when our tax rate will be 50% on middle class income?” A small write off is great, but the liability of the investment may not be worth it. We still have to solve a massive tax problem once everything else is back on track!
