So you're predicting that within a year RE demand will be higher than the biggest housing bubble in U.S. history? Well, that's one possibility, I guess.

But why? Because you saw a lot of people at Best Buy this weekend? Let's see how those sales numbers compare to last years'. Maybe things aren't as bad as some think -- but your observation at shopping time doesn't mean anything until you can compare it to previous years' sales.

As for having friends who have bought nice homes, that's meaningless in the grand scheme of things. For instance, I know someone who recently bought a very nice home in Gladwyne. Because he works in finance, he may lose his job very soon (his words). So his situation is good and bad.

I don't see how a the psychological impact of a new president will affect the housing market. This housing boom just happened to occur during Bush's administration. The internet boom happened during Clinton's administration. The sitting president had little to do with either of those booms.