There is more than a single variable to consider in making a home purchasing decision (or at least there should be). How you conduct your business and how and if you communicate to people these variables…well…I don’t know nor is it right for me to judge you personally.
I know there are reputable, honest, and informative Realtors here (Pigs) and in the marketplace. Unfortunately, they are VERY FEW and most people utilize friends and family licensed Realtors to buy homes which is, in my estimation and experience, a mistake 9 times out of 10.
The good thing about the fire we are going through is that it usually causes the dross to rise to the surface and expunges those who are not good at their craft, or those who are not ethical people (Madoff).
Just because something is not tangible does not mean it is not predictable to some extent or that a forecast cannot be made concerning a future value or in this case rent range. That is like saying the unwinding of Bear Stearns was not capable of being predicated until it actually happened. In that case there would be no option trading.
History always repeats itself, human psychology is very predictable when faced with certain stimuli, and there is nothing new under the sun.
There always exceptions in this market, but in GENERAL and speaking from a MACRO view, we still have a lot of downside in the housing market as the EFFECTS of unemployment have not even hit the mortgage arena in terms of DEFAULTS. The last few years of defaults have mainly been due to other factors (no equity can’t refinance).
When you default and have no job….there IS NO MODIFICATION SOLUTION and YOU WALK.
The next wave down will be due to unemployment and this will take us down further….
If your buyer’s are comfortable with these things and still want to pull the trigger for whatever reason then that is there decision.
