I’m not sure if these name calling and scare tactics by the housing bears will convince anyone. Its pretty clear that no one know for sure. There are anecdotal evidence to support both camps. My anecdotal take is that actual selling prices have come down 10% – 20% from the very peak but houses are getting snatched up very quickly if they are at these prices. This would suggest an equilibrium at a price somewhere in between. That is, at least for the current state of the economy.
