Sorry but I find your posts confusing. Most people who joined this forum were fascinated by research by Rich and the graphs he produced. We crave for real cold hard objective numbers. So excuse us if most people here don’t care for your emotional plea to “not hold our breath”.
Is your whole argument based on the fact that people will always be buying homes? There were people wanting to buy but that shouldn’t have raised prices 200-300% and whehn it did, I didn’t hear you or anyone question that move. Now, there are definitely still people who are buying but their numbers (demand) is low simply because they cannot afford the houses. But supply has jumped with invesntory almost double than last year. So again, why do you think I shouldn’t hold my breath for the bubble to burst?
Finally, I call BS on your claim about emotional attachment of people to their houses. Most homes on market pressuring prices down are by flippers, speculators or people who bought houses beyond their capacity with exotic loans in last 3-4 years and have no emotional attachment to their so called homes. Their only emotional attachment is to the paper money they thought they had and cannot believe they may have screwed it up. Anyone living in a house for 20 years and who has REAL emotional attachment to his home/abode will easily sit out this bubble. Sorry but my emotional attachment is to myself and my experiences and not to the cardboard walls, inside which I had the experience.
