RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:CFO For all intents and purposes, the bubble burst 4 months ago but those with vested interests have been telling everyone that tens of thousand of buyers will suddenly appear out of nowhere after Labour Day weekend to absorb the inventory and consequently, prices will go up again. LOL
Of course, the irony in all that is that many people have been holding off on listing their homes for this exact reason… so a huge uptick in listings in early September is very likely… Will tens of thousands of buyers dying to invest in a city with failing infrastructure and rising crime rates suddenly storm the field in a free-falling market?
I guess we will know for sure in the next few weeks, but real investors aren’t generally as dumb as the industry is hoping… uneducated speculators maybe, but it’s safe to assume the 20% drop so far has been sobering enough.