Back to "pre-bubble"

I must be obsessed with the real estate market. Yet, it seems to me that no one, in the entire United States of America, has accepted the fact that it may continue to go down. Why? Because first and foremost there’s no way to locate its bottom at that point and second because the brutal answer to that question is that it’s situated around its "pre-bubble" level of circa 2002. Until now, everyone has been hoping, wishing, and crossing their fingers for the slide to stop, but as any savvy investor knows, these tricks, including prayer to God don’t work. On one hand there are the realtors trying to hide the depth of the abyss from onlookers and on the opposite side the banks, the government and all the homeowners in a profound, collective state of denial. Get real now, take your blinders off! Your home is no longer worth what it used to…