October 10, 2008
... Gary Painter Lusk Center for Real Estate, University of Southern California
"Why did it go down 675 points today? I couldn't tell you that.
... Apparently, the only people transacting are the early baby boomers. They're terrified and worried they're going to lose their retirements. It could be as simple as that. You have a lot of panicky people nearing retirement liquidating their retirement accounts. And others who are still liquid are waiting to see what prices do."...