We may not know exactly what is going to happen in the future but many of us study a variety of factors, data and history to get a vague idea. On these boards we discuss our vague ideas in search of more data and some clarity. Can anyone predict exactly, ni, can we get fairly close, YES.
Everyone is not a knife catcher, the term applies only to those buying in a falling market and buy too early. It has no applications in a rising market or at market peak. Market peak buyers are called “fb” or “fb’s” an abbreviation of f—ed buyer, and that is generally reserved for those who bought at peak with adjustable low or no down loans in the hopes of selling or refinancing when values went up, they can’t carry the fully amortized payment. Values went down, so now they are f—ed.
I also use the term “butterknife cathers” for those who have seen prices fall within affordability, perhaps they are paying pre 2003 prces and half price compared to peak. People with 20% down and fixed mortgages that they can afford with doc’d income. They are not risking near as much as those paying near peak and they are immune to further declines because their fundamentals don’t require appreciation. Those examples are only in the exurbs and some other areas. 92126 is still in knifecatcher territory.
