One always wonders when there are large stock market corrections.....when the "Limbo Rock Rule" applies. When to buy.
Usually you can see lots of stories by financial professionals these days with various theories. Usually they are based on a large....very large perspective.
I like to look at it from a very small perspective. Where there are entry level workers, A, married to entry level workers, B, who desire to purchase a home, C, -----How much do their wages have to be increased to allow them to qualify to purchase that home at fair value, using traditional mortgage ratios?
Just reflecting on that question brings one pause as to what percentage house prices might have to fall....... and on the other hand,....... how much wages might have to be increased to allow traditional lending to be restarted.
This equation and question will not be discussed in any of the pundit articles today, and yet, until it is discussed, nothing will be solved.
That is how I see it. From the small perspective of my world.
And you?
You make the call.
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