Frank, I too have a hard time seeing any fundamental reason for optimism in the SFH sector. That is not to say one should pass on a bargain when they present themselves, but counting on long term overall market price appreciation seems kind of dreamy to me, what with the economic realities that we as a nation are facing.
Gov has pretty much pushed every button, and pulled every lever in order to prop up SFH prices, but alas the market continues to exert downward pressure. The RE tax situation (which was counting on higher assessed valued houses)looks unsustainable in most markets as well- which further depresses prices.
I wonder if 30 year GSE sponsored home mortgages will continue. It wasn