I would have to go with sdr about the following,
1)Without a major economic downturn I don’t think we will see much lower prices in SD area.
2)Most of the remaining U/W home owners in SD are not going anywhere, if they were they would already be on the market to take advantage of the tax law (another reason inventory is so low).
Thing is I think there is a good possibility of another economic downturn (which if it occurs from this level will probably scare the piss out of most everyone here).
You need to ask yourself (where were you in 2009?)
