Insightful article (URL below) includes these key take-away points:
-- The market hasn't changed; it has moved on. And it certainly hasn't returned to normal and never will. There isn't any such thing as a normal real estate market because each market is new and different and unique to now, and driven by not one event but several, some of which never repeat themselves.
-- Today, there is a loan for anyone who is responsible with money and has a decent job.
-- For some real estate practitioners, 2007 will go down as their best year ever. That will be entirely determined by what they do, not what the so-called market does.
Source: Realty Times (via Yahoo)
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