Reply #33: The key to all of this [View All]

[cliss]

is the strength of our economy. That's what either sustain or kill this housing market. It will always come down to this. The government deficit is in the stratosphere. We're bogged down in a war in the Middle East with no end in sight. The presidency itself is now being questioned.

Our manufacturing base is nothing but a hollowed-out shell. We haven't seen the full effects of this yet; there's also outsourcing.

The US economy still has a lot of strength. But does it have the endurance to justify home prices in Southern California? Like a house that's worth about $300,000 to sell for double?