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Thats fair enough Dr, but the stock market is long term also and is usually a leading indicator of economic recovery, thus the housing market still hasnt seen the bottom yet.
As MickMinus100 says houses can and most likely will drop below construction costs. Stocks do this too...they tend to 'overshoot' what they're really worth...
MacDunk when you say 'below construction costs,' are you incorporating land costs aswell? Things dont look rosy for sections. Also, what kind of houses do you mean? If its a 1970's house, sure it wont suffer from leaky building but it wont have modern fixtures, so you would expect to pay less than construction costs?
Last edited by upside_umop; 08-10-2008 at 02:01 PM.
By the way - it's upside_down, not upside_umop 
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