“Another week, and another two people I spoke to in passing have just decided to list their homes because they fear impending price declines… One of them told me their realtor showed them an inventory graph that sounded remarkably similar to the one from VCI, and also said the shit will hit the fan in spring, and that they should really hurry and list to try to catch the last of the HAM before the China crash tightens up the availability of funds from there… and that SFHs will see large declines in sale price this year.”
– TPFKAA at VREAA 24 Feb 2012 at 8:07pm
“I was at supper with a large group of friends earlier this week, many who are Westside owners, when one who had never mentioned RE before piped up “Sometimes I think we’re fools not to take advantage of these high prices and sell.”
– West-side Frank, via e-mail to VREAA, 23 Feb 2012
Pumps are primed (People ‘know’ it’s a bubble).
It’s going to happen (Rush to realize profits; sellers storming to market; buyers backing off; steep price drop; self-perpetuating further drops).