Quote:
Originally Posted by goodbyehollywood
You're right; the sellers are the trigger. There are buyers on the sideline. When sellers lower their prices, buyers appear and houses sell.
I wouldn't be surprised if we see a stairstep pattern. Prices drop, some buyers rush in and absorb inventory. Other buyers wait. Prices drop more, then more buyers come in and more inventory is absorbed. Sort of like water (or demand) seeking its own level. Buyers have all sorts of price scenarios and risk tolerance in mind, so I don't see a parabolic drop. That would certainly bottom it quicker and more efficiently.
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I agree that the stairstep is the most likely senario. At some point in the future Real Estate will be so out of favor, the concensus will be that only a fool would buy. that will be the bottom.
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