It doesn’t mean we are at a bottom. It means there are “bottom” like opportunities out there for certain types of buyers.Usually buyers who actually have some talent at speculating, who bring a lot of cash and/or a tool belt and/or are willing to buy in less desirable areas and are not job stability concious in their aquisitions. These opportunites increasingly are including parts of this region for those with bottom feeder propensities, who don’t believe in any near future end of the world scenarios.
Bottom feeders get going while other bubble concious, future buyers are still waiting for something which meets higher expectations to also meet their pricing and other concerns like job stability and zero tolerance for depreciation risks.
As I understand it, the dynamic duo of Case and Shiller have never believed we were going to have a depression so it makes sense that they would observe this activity, recognize it for what it is, and have something to say about it.
There is also another group that is buying. They are just glad that much of the downside risk is gone. They are not bottom timers and they know it.
I don’t think anyone is saying that we are at, or chronologically speaking, even near an official bottom.
