Right, he has conceded that real estate prices may drop 10-15%. Where did he get that number from? What research has he done? What metrics did he use to determine FMV, or price resistance at 10-15% below current price levels?
I’m sure the answer is none. This is the sort of “out of thin air” number that people love to make up. I’m not even sure why they do it. Maybe it makes them feel smart that they have a projection. Maybe it helps justify a decision that they are making emotionally, but want to rationalize with something that sounds like logic.
Put him to the test on that one. If he can give you a GOOD answer, come back here and share with us. I’m sure we will all be interested… Then promptly give you thirty reasons why he is wrong.
