still no interest in property

This seems like the point in my life, and by proxy, the lives of many of my friends, where the acquisition of property would be taking place. While I acknowledge the 'specialness' of the Bay Area housing market, I find what Ritholtz says on the subject here and here pretty compelling. Of course, he's been saying it for months, really years about the depth and breadth that housing had to fall and/or plateau for before we would be back to normal pricing levels. And with unemployment remaining stubbornly high, we're really not going to see a big pick-up in housing demand any time soon, or at least not at current prices.