SwingTrade Member Forum

[BuzzOnDaBeach]

My favorite was all the idiots, including many on this and other boards, screaming this is the bottom, this is the bottom.

As I posted over a year ago, real estate corrections are not like stock market corrections. It doesn't happen in weeks or months. Inventory takes a long time to move, and if it is steadily increasing, the correction period takes longer. Typical real estate corrections are a minimum of 2 years, and most 3 to 4. I lived (owned) through a bad one here in LA, and know the signs here anyway that the bottom isn't in. When I see houses on the market for 6 months with several price reductions, I know the bottom isn't in.

I remember ONE, only one cnbc analyst (the real estate analyst from standard and poors) who kept saying we're not close to a bottom, and all but called the head of the realators association a moron. Last spring, he said 2009 at the earliest for a turn around. The ONLY one I saw on cnbc ahead of the curve, and the cnbc pumpers all called him an idiot.

Buzz