“I read all your comments and am reminded of the stock market blogs…much speculation and little fundamentals.”
This is a first for Piggington. What gave rise to this blog was its emphasis on the fundamentals. This blog and many like it accurately called the housing boom what it actually was…..a housing bubble. That was long before it was popular to say so.
PQ Kid, read the “Bubble Primer” to get a better understanding of the context of the discussions on this blog. Of course there is speculation about how this will unfold but most of the arguments on this blog are deeply rooted in data. You left one thing out of your analysis on why now is the best time to buy, here is a quote from Rich’s “May Resale Housing Data Rodeo”
“I myself don’t see much of an aggregate bottom coming anytime soon while foreclosures continue to pile up at such record-shattering rates. The 1990s bust saw prices fall for 6 years in the face of a foreclosure rate that was barely more than 1/3 what we are seeing now. The pickup in sales is certainly a candle in the dark, but it just doesn’t mean all that much when those sales continue to be overwhelmed by a torrent of new foreclosures.”
