I think houses are selling if the owners take the 20% haircut. We've had quite a few houses selling recently, and these were long-term owners. What's a little off when the price has gone up by many factors?
Our local speculators have gone back on the market with their peak prices, or much more than peak. My buddy the lawyer is busy with defaulted sales, soon there will be walk-aways. I'm always amazed how long the speculators can hold, must be no other place to put the laundry money.
Anyway, I always thought that a flat line was unstable, it either has to go up or down. Another year of this and I will be proven wrong. :)
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