[quote=Ren]There are millions of people that still have a bubble mentality, nervously ready to pounce at what looks like the bottom to them, because they think the market will suddenly change direction and rocket upwards – leaving them “priced out forever.” Those people are helping drive prices down, and therefore are our friends 🙂
I’m even more relaxed and sure about the direction of the market now than I was in 2006. I was planning on buying this winter, but now I may hold off until late 2009.[/quote]
By the way, the lending standard is tightening. So if you don’t have 20%+ down, good credit score etc, you theoretically will be “priced out forever” soon. So for some people, it does make sense to jump in while they still can. In real estate, a lower price does not always mean affordablity will improve.
