While you’re at it, ask how much the condo should price at with option arm / teaser rate / toxic shoxic loans.

The ONLY apples to apples comparison is house price. If you compare 30yr fixed, they were about the same in mid-90’s as now, so it’s a spurious argument anyway.

Furthermore, after adjusting for inflation, if anything, prices should fall below the mid-90’s nadir, as they should overshoot more to the negative, as they went further out of whack to the positive.