Everyone is aloud their right to rant in my opinion.... so this will work for mine today. 

If you need to sell right now, you may not think it the most opportune time.  Perhaps it isn't when compared to 2005.  However, the equity adjustment you will make is still proportionately less than the appreciation you received during the last 10 years.  But if you are thinking of buying, what are you waiting for?  T

 his is the buyer's part of the cycle.  People are not properly defining this part of the real estate cycle.  It's called the "down" cycle, or the "bust" cycle, and people get scared and stay away.  The proper definition of this cycle is "buyer cycle."  When else should you buy?  When housing prices are going up?  True, that's when most people buy, but most people buy in a seller's market because they perceive that the market is good.  Right now is the buyer's time.  This is their part of the cycle when prices are adjusting. 

Of course, everyone wants to time the bottom perfectly.  Even Donald Trump has said it is impossible to do so.  Take your best guess, but also take advantage of ample inventory, low interest rates, and motivated sellers.  Buyers beware; it won't be your time forever.  In fact, in California, your time is limited. 

Rant off...