Decius wrote:
3. Availability of credit: There are perfectly responsible potential home owners who are not allowed to buy right now because credit restrictions have become more strict than they should be.
I disagree about that point. I think the banks aren't lending to people to buying homes because the bank is who is really buying the home, and that asset is going to depreciate further still and leave the bank with as much of an on-paper loss as if the homeowner just trashed the place and walked away from a foreclosure.
