Who says they don’t ring a bell at the bottom? Have we hit the bottom in the real estate market?
Well, I’d like to think that we are close.
Here’s how I suspected we were at the top:
1. When everyone, and I mean everyone, I knew was talking about real estate.
2. When every other person I met was getting into RE Development and/or had sold a piece of real estate for a sizable profit.
3. When HGTV had a show called “Buy it and Flip it”.
And yes, the housing bubble resembles the Internet bubble if only in that during that period everyone I knew was abuzz about which dot com stock they just made $100/share. So when your butcher is all of the sudden a stock picker or a real estate developer its a sign we are at the top.
So let’s take the flip side of the euphoria. If we get one more daily dose of depressing news, I’ll scream. And don’t we all feel down? And aren’t we all talking doom and gloom? And the media is just piling on the bad news. I think we’ve all capitulated….why don’t we just close our eyes and pray it ends soon.
OK – so isn’t this the opposite of the top? Have we hit bottom? Is it today, maybe. Next week or next month, maybe. But isn’t it when it’s the darkest that the light shines brightest. We all want to see the glimmer on the horizon…Perhaps the time is now and if so blue skies can’t be far!!
And remember – Price and Proof are never available at the same time (A lesson well-learned in graduate school !!)