Here’s an excerpt from an a Q&A with the then-president of the Thurston County Realtors Association Bill Hutchinson that appeared in The Olympian in February 2008 (now available only behind their archive paywall):
Q: Given where the market is today compared with a couple of years ago, what would your advice be for sellers and buyers now that the market has slowed down a bit?
A: Right up front, this is a great time to buy. Interest rates are historically low; we have a great inventory of homes. As a buyer, what more can you ask for?
What more could you have asked for? Oh, I don’t know… How about way cheaper homes?
Say… people who waited four years after Bill Hutchinson’s “great time to buy” got not only homes that were around 25% cheaper but also interest rates that were two whole points lower!