We are in a real estate puddle

[Ben Bakhshi]

I've been using this term for the last few months and wanted to officially claim it on the interwebs. ;)
We have gone from a real estate bubble to a real estate puddle.
A real estate puddle is when prices are below value according to traditional, conservative investing standards.
You know you are in a real estate puddle when you can buy a property and earn 15% when using the 50% rule.
During a real estate puddle, it is easy to find properties that beat the 2% rule.
A real estate puddle, as opposed to permanent flooding, is represented by a competitive local market, where there is a stable population. ie. NOT Detroit!
Just like a puddle quickly dries up in the sunlight, real estate puddles dry up quickly by investors clean up the messy puddle. With a real puddle, when it is gone, the weather is nice and there are rainbows. Similarly, after a real estate puddle goes away, prices are on the rise.
Real estate puddles last longer when retail buyers & investors cannot buy do to unfavorable or difficult lending standards, like we have today.

By the way, of course all real estate is local. I am specifically talking about Atlanta GA right now.
Where else do we still have real estate puddles?

I hope Joshua Dorkin will let me trademark this term even though I posted it on Bigger Pockets!