Certain pockets like Houston do better as companies with fat profits expand hiring of execs but the country as a whole doesn't do well.

To own a business I want FAT profit returns of 20% plus margins to make it worthwhile.This owner says he is motivated and then in another breathe even though in his 70's says he is not.

Overpriced listings are doing more price reductions while the listings priced correctly are still selling and often times with multiple offers (just less offers, rather than 12 offers maybe they have 3). 

So you will never be able to prove the house has no lead but you might be able to show it has some and get a reduction.

You reminded me of my Navy days when our facetious formation brief between a section lead and his wingman was, "I only want to hear 3 things out of you: 'Yes Sir', 'You're on FIRE', and (at a bar) 'Don't worry, I got the fat one'."

Some areas may have already seen the bottom, some areas will probably see further price reductions.

Wall Street also got fat . . . .

Technically, yes, but we all know it Will happen.Appreciation over time has always occurred, so branding it speculation is inappropriate.Speculation in my opinion, is the purchase of an investment with a short term expectation of gain from appreciation.That said, Rich's comment that appreciation and tax deductions are miles ahead of cash flow and principle reduction stems from the actual amounts generated.

Tell them the scenario and find out how much reduction in taxes you should expect based on the new ARV.

Very expensive HOA fee.Since inventory is 10 to 18 months, it would be easy for a buyer to ask for a huge price reduction if the seller is motivated.