I’m not a doom-and-gloom real estate bear, but you have to acknowledge reality. There are a huge number of new units on the market, and many more on their way, and the market price of homes is simply not headed up in the next two years.

I’m not going to sell my home and rent to try and time the market, but there’s no way I’d pay “top-dollar” (2006) prices for a new luxury condo right now.