David Fischer

Over-Correction in the Phoenix Housing Market

Housing overshot up, and now will overshoot on the downside. Fair value? What and how can anyone especially this guy dertermine is fair value? If it were only that easy then we would all be so rich. The fact is foreclosures to add to dropping prices, the fact he retorts this is plain dumb logic.

Usually after bubbles of that magnitude, the overshoot the other way can be huge. One only has to look at the Naz or any other bubble that has occurred. Real estate in Phoenix, Florida and especially Las Vegas have a ways to go still to the downside.

Too many clowns get stomped on trying to call bottoms. If you cant handle a 10% drop in prices from here or more, then why try to catch a falling knife.