“You know, in all the MSM blurbs I read about the housing crash, there is always some comment like ‘recovery late ’08, maybe early ’09’.”
“Am I missing something?”
If we have a radical alignment downward in prices we could see a “relative” recovery. That is relative to today 2009 could be an improved market from the numbers standpoint but even if it isn’t there “could” be “good to buy” properties out there…maybe even some deals as good as it will ever get.
I am not waiting or recomending waiting until there is wide proof of a “recovery” to buy. I didn’t in the 90’s and I won’t do that now. So many people I know did fantastic with investments and personal residences they purchased in 92′-98′ with 98′, or there abouts, being the official bottom of the market.
I read the article JWM has posted on this thread and the recent stuff Rich, Artifact, sdr and others have posted here it is very clear that that macaroni is hitting the fan. It isn’t really worth looking for “good to buy” properties yet, at least for average home buyers and average small time investors like me. I know you guys already know that. I am just saying it because I don’t want to get accused of being a shill for the above paragraphs.
Oh yes, I like to joke about a 50% correction but I don’t expect we will see a broad 50% correction as long as we are a first world country.Maybe the relative “wealth factor”. of the house comes down that much. I have always said that I expected dramatic “chunks” to come off starting when we had that converstion on sdr’s thread,the charts and stats seem to being showing it.I take a wait and see attitude on the final answer as to the overall correction. Applying what someone here said about the stock market, there are too many ways to be wrong.
