Quote:
Originally Posted by Dan02
possibly true that a longer period would be a better gauge, but most of the negative nancies here are suggesting that a crash is immanent this spring, well it was winter before then it stabilized, then defying the usual pattern of a increase in value during the spring, predicted that the market will crash this spring because of all the people waiting to put their house on the market.
Read Reds post, if as he suggests people will start walking away from their houses then a market has taken a massive downturn, not a slight decline or a lull in sales, but a outright crash.
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Oh I know, it would be nice to say come June, "look, everything is fine" to the people who seem intent on implying that buying is stupid, a crash will come, etc. But as we've seen, 6 months is hardly a big time frame to look at things. The inventory, people's motives for selling, the large amount of multi-family coming on, could all take a few years to play out.
That said, I bought my place in August and would love to see things shoot way up! I don't think it'll happen though. But I bought my place for what I think was a good deal, and still think I could fetch that in today's market. So a minor fluctuation I'm not too worried about.