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Originally Posted by !@#$%!
i've heard other opinions ranging between 1 to 2 years because real estate is a slow market and it's hard to predict, unlike, say, stocks, which can fall overnight.
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True, but hitting bottom doesn't mean immediate recovery either. I wouldn't move on anything until it had gotten up pretty far from the bottom, and that's probably the one to two years you heard about. I trust just about any economic prediction Greenspan makes because: 1) he's watched and
controlled the economy longer than any other human alive and 2) enough people believe whatever he says that they move on it and tend to make it into a reality via self-fullfilling prophecy.
I'm sure where I live in the NW the recovery will be first. We weren't even hit as hard as the rest of the country. Plu we have this inevitable bounce back factor that there is always California on the map below us and millions of people who still have some money and desperately want out.