I’ve posted lately about my observation that 2009 was very much like 2004, right before the inventory began to explode. There has been so much speculative activity (IMHO, about 30-40% of the activity in 2009 was speculative, including MLS and non-MLS transactions), and this never leads to good things.
One of the other posters and I were discussing what feels like a possible slowdown in the past couple of months — very subtle, so far. A bit like the calm before the storm. Everybody seems to think *something* is about to happen, but nobody really knows what that something will be.
Personally, we are still sitting tight and staying in cash. I would NOT be flipping right now, BTW.
