[quote=sdrealtor]CA R
If you are out there here’s one for our wager. A house in one of our 3 categories will be closing on Monday for more than the house next door (larger with pool) and the house across the street (larger with view) sold a year ago. Looks like we hit bottom already;)
sdr[/quote]
There’s no doubt that we are seeing quite the run over the past year+. Please understand that I never disagreed with you about the activity levels, as we have been out there “on the streets” for years observing the market. I was saying in February of 2008 that activity was brisk and reminiscent of the bubble peak. I’ve also said since the beginning of our bubble-sitting venture that we’d have some massive rallies as we move through the cycle — some that will surprise even the most bullish spectators.
Unlike the bulls, though, I beleive it will be the duration of the downturn that will be the most surprising aspect of this cycle. IMHO, most people are thinking of this in “micro-cycle” terms whereas I think there is a much bigger macro-cycle that is unfolding.
We have until 2012 to see who’s correct, and I look forward to it, no matter who wins. 🙂
BTW, we’re BBQ’ing chicken right now, if you’re hungry. 🙂
