This article was fun, because I am so frequently deluged with commenters at the other site who haughtily inform me I don’t know what I’m talking about — because I’m not an economist.
That’s right, I’m not. You know how you can tell the difference? I have a much better track record with predictions.
I told people two years ago we’d see a 30-40% drop in real estate values. We did. I’m saying it again: a 30% drop in the next year or so. I wouldn’t buy now; rent until the market bottoms out. It hasn’t yet.