one realtor's outlook on the housing situation

Our friend and Realtor, Jim Johnson, recently wrote the following about his take on the current housing market. It is interesting and gives me a little sigh of relief that the housing market won't be like this forever, hopefully.

From Jim's newsletter:

A close analysis of the figures below confirm the market is at a turning point. Yes, it does require more information but prices have stabilized for the most part. It won't be too long until Broward County will start including "Short Sales" into their tax base. We'll hear more about that in the coming months. We keep hearing that NOW is the time to buy yet there are those of us that have serious questions with that statement. If you are paying $1,200 or more in rent perhaps now would be time to seriously consider purchasing. When prices start to rise we will be headed in the same direction as four years ago - a buying panic. Will prices escalate as fast? Probably not. Will prices go beyond the top of the "bubble"? Probably will. Despite the fact that we have hurricanes (predicted days in advance) every part of the country has their own disasters to deal with that bring just as much damage and destruction to property and human life. The Sun and Weather here in South Florida that always brightens ones life.