The only thing I disagree with is the momentum in the market, for us it's been terrific. We have a large number of buyers coming out of the woodwork as they see listing prices drop. I'm not sure where we bottom out, but the distinguished Noah Rosenblat thinks we're pretty close, time and his charts will tell.
Part of this discussion is about the divergence of the economy and the real estate market. Many folks are having a difficult time understanding how we can have a declining real estate market with such a strong economy. Now those who think the real estate market is bottoming out perhaps in the next quarter, then strengthening, are banking on the fact that the economy will remain strong. But will it? I think we'll see the equities market 'catch up' to the real estate market over the next couple of quarters. But of course take this with a grain of salt as we should any short-term predictions. Personally I'm feeling more bullish on my real estate holdings, moved all equity positions to cash 3 weeks ago.
Watch discussion here!