Deborah, thank you for your input – very well said.
Rhett, you’re more on track but I’m looking bigger picture. I’m looking at historical data and apply Fibonacci Retracement. If you look at the current Fibonacci trend:
80 to 83 wave 1 up 82.6k to 112.87k
83 to 88 wave 2 down 112.87k to 80.92k
88 to 09 wave 3 up 80.92k to 178.4k
09 to 11 wave 4 down 178.4k to 170.2k
11 to current wave 5 up 170.2k to 208.16k
(The above is based on data specific to Oklahoma.)
If wave 5 is truly a wave 5 then we could be looking at the real estate market retracing back to the upper 170k range (this would take years). I say if wave 5 is truly a wave 5 because waves 4 and 5 could turn out to be a continuation of wave 3. For that to happen Oklahoma would need a major boost to its economy – like a major corporation bring 1000’s of jobs. It could happen and we’ve seen it before with GM. I haven’t heard of any talk since Bowing and Fait, has anyone else?
There is a lot more information, thought, and detail I’d like to include but I feel we’d lose track of my original question.
