[quote=peterb]I have no problem seeing 1997 prices in the next couple of years….and the reason will be that no one has money to buy a house. Careful what you wish for. I’ve said it before on this site many times….when prices get to where everyone wants them, it will be because the economy is on life support. Will you have a job and the desire to take on a big debt in this situation??
I think fear will rule the day, not greed.[/quote]
By the way, just want to emphasize that this is a much worse scenario than what is predicted by OP. Others are still predicting 1997 inflation-adjusted price but I think you are predicting 1997 nominal price. The economy is deteriorating fast from the beginning of this year, so I don’t want to rule out your scenario. I am just wondering what is the optimal plan to manage such risk?
