Market downturn - Where is the bottom?

One of the main reasons for the housing market downturn is the unprecedented run up in home prices (since 2003) which proved to be out of line with inflation and other "fundamentals".

When will we see the BOTTOM?

• When Builders cease with their concessions on new home sales.
• When we see a surge in foreclosures (we are already seeing this in many areas) and many believe the peak will be in 2008.
• When we see the nation adding jobs to the economy.
• When we see rising home prices for about 6 months. After this many believe the housing market will find equilibrium.

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