My view of the market is strictly as an investor. So calling a bottom to me is not nearly as important as seeing factors that would indicate a recovery. This market could sit on the bottom and languish for a long time, ala Japan.
The trend is still on the down-side from what I am seeing.
One thing I will say is that if you believe the CPI, inflations was 25% from 2001 to 2008, and we all know it’s probably too low. So add that to the prices we’re now seeing. I’d say we’re at 2001 prices, more or less. The problem is that things are getting worse for the economy and unemployment is rising. Foreclosures will probably take over more of the market as well for the next year or so.
Perhaps we’ve seen the biggest drop/time ratio, but I dont see how it is going to stabilize anytime soon. And then again, how long until it has any pressure to cause prices to rise?
