Either that or maybe there were a lot of “options and upgrades”. Most of these builders really raped their buyers for these options by grossly inflating their costs. I mean, really abusive markups.

The irony is that in 3 or 4 years after the initial purchase these upgrades all-but disappear in the resale transactions.

This is just the beginning. I think the really big declines for 4S are at least a year away at this point.