andyn

Is the Real Estate Plunge Really That Shocking?

What is surprising is that home sellers are still thinking they are going to get their high watermark prices!!!
Even though, foreclosures are occurring all around them.

I think home prices need to go down almost to 1999 levels or about 60% from the peak (double of the current median price drop %).

Sellers, better get out NOW while you get the higher values
Buyers, rent till the home values come down 60%