the argument “well, you can’t argue with the market” or “i know because i see what’s happening int he streets” is not very persuasive, at least for me, since i remmeber having debates with people during bubble years that this wasinsane and being countered with the argument that was similar basically, hey, yoou can beleive what you want, but reality dictates otherwise,a dn if you open your eyes you’ll see that houses ARE worth x because people ar ebuying them as quick as they’re listed. well, reality isn’t necessarily just what is happening. But with such obscure data and so much static, it’s difficult to say that anyone in this debate has a manopoly on reality. it’s difficult to trust a realtor’s sense of what will ultimately happen based on what’s occuring on the street, just liek a solider would have no idea of the trajectory of a war, kinda. not that that analogy is aprticualy apt, but … i’d say the sistuation is so muchy at this point that even more than usual, the future is unknowable.
