Studying history can be a great way to deterine the future, especially when it comes to economics.  As our data bases grow over time I believe the information will be a great tool to deterrmine the buy and sell cycles of real estate.  If you were to study our economic cycles it is difficult to determine the exact year of the top or bottom of a market cycle but it is possible to see one coming.   In a study of today's market and Fannie Mae's recent report of future loan activity, it appears that we are at our near our bottom of the market.  As builder inventory shrinks, the existing inventory in the market, will be where buyers will need to look to buy a new home.  Demand will slowly build over time, as long as employment and consumer confidence in the market stays positive.  Based on the previous two economic cycles the bottoms were about 1996 and 1985.  In this last cycle the peak of the market was 2005 - 2006 and the market corrections usually last 2-3 years, then a bottom and slowly recover over the next 2-4 years.  In our capitalistic society our greed driven agenda's will .again push our markets to greatness.  Millionaires are made at the bottom of a cycle.  We are in the vortex of the bottom of the market, the best Buyers market we have seen since the last one in 1995 - 1996.