Reversing deflation is extremely difficult once it gets rolling and we’ve gone past rolling to spinning outta control. Uncharted waters in foreclosures is happening real-time and picking up speed. REO’s are continuing to crowd out the market and drive it down.
As Bruce Norris says,”When real estate becomes despised as an investment, that’s when the real opportunities start to show up.”
I’m guessing late 2009 will be when all hope is lost. When the newspapers and mainstreem media start talking about the dangers of real estate investing, the party will begin. I still see a little too much about the bottom being here and good times just around the corner. So, we’ve got some time to go until total capitulation. IMO.
