Agree, the time to buy buy buy is at the trough of this housing bust. I figure those poor lads in Ireland aren't even too sure whether it is time to buy even after prices have dropped from 60% to 65% from peak (in dublin where we were told had severe housing shortage).
At the moment, Melbourne house prices (median) still need to fall another 50% from current levels to appear somewhat attractive. Don't worry, the mother of housing glut will flood the market soon !
The snake oil spruikers (who find themselves cornered at the end of the road given the can was kicked just a few too many times in the last couple of years) are in a state of exaserbation as they well know massive credit and debt binge is the only thing that can keep the music going.
Unfortunately, the banks have already decided more than a year ago that the music has stopped.
