When do you think the market will bottom out in Irvine?

NEW -> Contingent Buyer Assistance Program
I voted 2 years (really 2-3 yrs 2010/11) due to the ARM resets coming in....also factor in the 2.8 yr supply of Homes from CAR.



A better poll would be...what percent decline until be bottom out. I would vote 25-30% more.
 
2-3 years. It will take that long for the income to mortgage payment ratio comes back into year 2001 balance. Just before the cheap money hit.
 
I voted for "one year" but I think there will probably be some further declines later. I think the wild crash we're seeing now will be done in a year and sale prices will reflect rentsaver levels. That's a "bottom" in a sense. Later, though, I expect interest rates to climb somewhat and that will push the underlying support down and so there will be some further declines. However, I think that will be bumpy at least and in nominal terms prices might actually go up due to inflation.
 
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