Whither the bullish?

I'm worried. It seems like just last summer there was a positive vibe in the air, local dailies would run enthusiastic exciting headlines like 'BUY THAT CONDO NOW' and everywhere you looked you'd find press releases from realtor offices touting predictions of average house prices of 'ONE MILLION DOLLARS' in the next 3 years. All the local boards and blogs would have several posters explaining why 'NOW IS A GREAT TIME TO BUY'.

These days? We get headlines like 'SUPPLY OF CONDOS IS EXCEEDING DEMAND' and the REBGV benchmark price for a single family home has actually dropped below what it was last July.

But the most depressing sign of all?

I can barely find a handful of postings on local blogs and boards that are bullish on Vancouver real estate these days. So what happened? How has the shine come off this particular rose? Do bulls hibernate? I'm just looking for some reassurance that buying in Vancouver is a good idea right now.

Anyone?