"The donkeys will stubbornly resist until they are forced to sell at a loss."
you argue the most rediculous assumptions. why would anyone be "forced to sell at a loss" if they don't sell in the next quarter according to you.
it's not the stockmarket or a penny trader.
if property is not hot, and you don't want to capitalize if you are in fact speculating on your PPOR for a start, then most people hold...cause they need a place to live first and foremost.
17 months of rises, and you think its not time to cool off?
of course it is
but it doesn't mean DOOM for all the other reasons I mentioned earlier that move prices.
