I was reading the Express on the Metro this morning and it had a whole big (by the standards of the paper) section about how to buy your first home. Nowhere was the worry that one might be buying into a market that's still on its way down so much as considered. I'm not saying anyone who buys a house right now is buying into a downward-trending market (if I thought I could forecast asset price changes accurately, I'd get into another line of work) but it seems like an obvious concern people might have. No more obvious, though, than the fact that the advertising in the section came pretty much exclusively from condo developers who, presumably, aren't so interested in a rigorous look at this issue.
Matthew Yglesias is a former writer and editor at The Atlantic.