PS– I think you’re actually allowed to make posts on Jim’s site, just be respectful of him (similar to how you ask [and expect] people to be respectful of you). Jim seems like a real good guy to me.
Sure, he’s got something of a vested interest in selling homes even today, but you have a vested interested in prices going down. Not really all that different and I think Jim’s pretty sharp about it most of the time.
I do think Jim’s off the mark today, but if you can overlook the seemingly overly optimistic 10% appreciation figure (which is just one of the examples he provides), the other phenomena he describes have some truth to them–the biggest being that people will continue to buy properties even as prices continue downward. I see a good many people who seem to be impatient and if they saw the right house at the right price, for them, they would buy it today. Jim, being a realtor, wants to serve those folks and help them get the best deal they can.
Make sense to me and I caught narry a scent of desperation in his article today (but I will admit the 10% figure threw me a bit).
