Everyone else: This is the funniest thing I have ever seen.
"Conditions are now ideal for buyers. Interest rates are comparable to 40-year lows, and inventories are higher than they have been in decades." - NAR in 2006
I am still shocked at how everyone blames the RE agents for this market. No one forced anyone to buy a home; no one forced anyone to sell a home. Just like no one is doing it now. Majority of the problem lies with people getting into homes at interest only rates, or homes they just could not afford. The unscrupulous lenders who loaned money to people without verification or money down... knowing they could not afford it. And I still don't know why in the world people were out there bidding way above asking prices for a house that they wanted. We live in a society where everyone wants the biggest and best products out there. Everyone wants to keep up with the Jones'. It is an individuals decision to buy a house, not a real estate agents, not the lenders, not the appraisers, etc. There were a lot of bad lenders, bad appraisers, bad RE agents, but they are the ones who are no longer in business.