I just don’t understand the logic of trying to put a % on the drop and timing the bottom. Are you looking at all of the Macro Economic stuff going on right now? No one has a clue at how big this thing will be until it is passed. If you think the housing market is going to hit some magical “bottom” and then leap back up to current levels please go post on a Realtor forum. To those waiting to jump into a house and time the bottom, if you want to throw your money away fine, that is your choice, but this housing market is going down and when it bottoms it will stay there for awhile. All of the instruments and conditions that facilitated this irrational rise are gone and won’t be there waiting at the bottom. Be happy you aren’t a home owner for this and start building up your nest egg. At the bottom having cash will be king.
