In a few zip codes, we may be close enough that the drop from here to bottom is not large enough to worry about.

Plus, the Piggs are finding deals, possibly even driving comps to the bottom.

So, maybe the market hasn’t bottomed, but the Piggs are shopping under the market.

It is fascinating, though. A hint that someday this will be the “unreasonably bullish” real estate blog when everyone else is scared.

When Piggs start buying in Carmel Valley, that’ll be the bottom.