everskim, I would agree, a dead cat bounce, but a fat cat bounces pretty well, so expect a nice bounce. Climbing markets correct, declining markets bounce, but in the end, the horrible news coming out of China will limit the bounce.
323onp Regarding: One would think houses would be snapped up with these super low interest rates! : True, but interest rates have a habit of climbing after a down period and as one poster recently mentioned, it takes 11 years before a mortgage holder starts to build any real equity in a property. A few years of low interest is great, but if those years are followed by high interest rates !! I once owned a property, was paying 13% interest, at the time I could afford it - but it's always something to keep in mind in times of high inflation which pundits say is approaching, due to world wide QE of one form or another.
