Ok, I will buy that sdrealtor. Perhaps the pros will not be burned, but when the rookie flippers exit the game, and demand wanes, even the pros will step back if/when their profit potential decreases. Failure to do so could be financially detrimental.
My point is, when real estate is no longer identified as a short term investment instrument, and people finally acknowledge that prices are not going to suddenly bounce back, that is when the bottom is here or at least near. It is the psychology change that I am referring to, and it seems that we are getting there, but not there yet. People are still too obsessed with housing and real estate.
