I’ve been telling people to wait for 2015-2016 in order to “buy the bottom”. Any pricing bubble will take as long to unwind as it took to run up. When a pricing chart goes logarithmic (almost vertical) you can seen where the corner occurs. In housing this was 2001 and the pop at the top was 2008, so seven years to get back on track.
This time may also be extended due to other economic issues [JOBS] caused by the Bush Depression. The banking shenanigans impacted a lot more than the housing market.
My hunch is, houses will have lost 60% by the time we bottom out.
I’ve been telling people to wait for 2015-2016 in order to “buy the bottom”. Any pricing bubble will take as long to unwind as it took to run up. When a pricing chart goes logarithmic (almost vertical) you can seen where the corner occurs. In housing this was 2001 and the pop at the top was 2008, so seven years to get back on track.
This time may also be extended due to other economic issues [JOBS] caused by the Bush Depression. The banking shenanigans impacted a lot more than the housing market.
My hunch is, houses will have lost 60% by the time we bottom out.