Kudos to Cotty Lowry.
While no doubt there is a housing bubble and most certainly prices could go down more, I just had to photograph this and post it as it is pure genius.
My realtor and I were talking about how arrogant buyers have become. Cancelling their showings at the last minute, never showing up in the first place, making offers a full 50% below the market value of the property. He has also told me stories about how sellers have just given up and taken their homes off the market (thereby decreasing the supply). One seller is now even charging to show her place as her tenants are getting annoyed with the constant showings, but never a sale.
Though a buyers market and no doubt about it, I do think buyers risk waiting too long. Soon, inevitably on the sole fact people like to make babies, but there isn't any more land being produced, in the long term housing prices will inevitably stabalize and go up. The question is whether buyers will have gotten into the market by that time or were still under the impression you could buy property for a song.