When will Housing Prices Drop?

I was driving the other day and needed to take a left hand turn. There was a long line in one lane and no one in the other lane. I took the one with no one in that land.

As I did that I noticed a lot of the vehicles just followed all the others like a sheep would follow. People just do what everyone else is doing and never look at anything different or in this case faster.

The same goes with real estate. There are a lot of people saying that real estate is going down. They listen to people who may know or not know the business, but it seems they just follow whatever the sheep herder says.

In life I hear a lot of people say wow if I would have purchased real estate then I would be done. Today the prices are high and I just do not see any way prices will go up.

Like sheep we follow the crowds and that is not the correct way to look at things. History is a great barometer and there was only one time homes went south on pricing. In 2008–2009 that was a big dip in pricing. Other than that homes have held or went up in price since 1970. Check out the chart below.