sorry, slappi, you seem to be now providing arguements why housing wont fall the 30-40% our professor was touting.
If the current situation of improved affordability is occurring ie there is now diference between renting of buying, people will buy, as theose selling are under less pressure prices should stabilise.
the only variable is of course unemployemnt. and this is dependent on how bad which could see forced sales, however, those with jobs but with out a house could see an opportunity.
with falling production of new housing, renting will remain tight
