Assume for the moment that I agree with you that you are within +/-5% of the bottom that will be seen in this downturn. As in your $250/k house will not go below 238k, in more than just one freaky, run down, cracked slab, PoS, foreclosure sale. I can see that happening at 4-5% interest rates. It doesnt take too much money to afford a hosue that is 250k at 5%.
What I wanna know is how long you think TV will STAY at the bottom. Is TV gonna be V shaped, or L shaped? I ask, because bottom calling A) riles people up, B) Implies, if for no other reason that the implict association with relator groups who have been bottom calling for years now, that it is a buy now or loose situtation, C) both you and Bob could be right if foreclosures keep feeding demand for the next year or so and no price appreciation is seen.
And let me state for the record that I dont really care either way. I am not even looking to buy right now, I havnt been to SDL in months, and have never really even been to TV and have no intention/plan of ever living there. I am sure it is nice and all, maybe some day I will live there. I just dont see it happening right now, so my interst is PURE curiousty. So, Could someone buy in December at the bottom too?
