Prior to Jim’s comment about “Don’t Buy a House Now!” he also said that prices will break and we will be out of this by this time next year. So, my question to Jim is, how are ordinary buyers supposed to time the market so they know when it hits bottom? I mean, if the majority of buyers heed his advice and stay on the sidelines until he says jump back in, then won’t that create a frenzied market again? I’m a Realtor and the majority of “buyers” I talk to are waiting for the bottom. I’m not an economist but it seems to me that if everyone waits and prices plummet, then when everyone jumps in, we will be right back where we were before with escalating prices.
