Emeritus Professor of Real Estate - Specializing in REITs and Commerical MarketMore Less
This housing market is 20%-50% inflated depending on where you live. Take the loss for 10% and pass the other 10% to the next buyer.. If you wait, you'll end up losing hundreds of thousands of dollars on a 30-50% crash..
Here's a Wall Street Journal (best newspaper in the biz) article on next four year estimates:
Take the estimates.. Take the average home price in your market right now.. Add the estimate ( -15%?) and that should be your MAX bid on any property in the area.. Don't be a fool.