First the WSJ now this...

another "renting is OK" article in the MSM. The message is spreading. Buying is a bad idea right now. Renting does not mean you are the scum of the earth. Sing it loud and sing it proud sister!!

The NAR's "now is a great time to buy" message is being discredited on a daily basis. I even noticed it on TV this week. There is a show called How I Met Your Mother. It's a sitcom about friends in NYC in their late 20s/early 30s,pretty good show. On a recent episode the married couple bought a condo and the message was BAD IDEA JEANS.

I have been asked a few times how will I know when the right time to get back in will be. The right time will be when everyone else thinks buying is the worst idea possible. When the very idea of buying is met with repulsion (kinda like the idea of renting was met circa mid-2006).

We're not quite there yet. The "don't buy" crowd is still a minority. A growing minority but a minoority nonetheless. I'd say another year or so and another 10-15% drop in prices and the time should be just about ripe to buy again.