I agree that these are knife catchers, but what is happening is part of the process.
You have to believe that the relatively low prices in SEH are attracting potential buyers from South Carlsbad and Encinitas. The lack of sales will put pressure on those two markets and prices will drop. Then buyers will flock to SC and Enc and sales will slow in SEH. Prices will then fall in SEH….and on and on until the market reaches the bottom.
