sdrealtor has it right, the median is really useless lately. The OCregistor is hubbubing the flat appreciation in median, but has been too stupid to look at the fact that the only reason the number is and hasn’t been negative was because new home sales price tags continued to increase even when others stalled and started to pull back.

As for waiting in the wings, I’ll enter when it’s cheaper than renting. I won’t wait for bottom, the deals are long before bottom. Before the house can be worn, before “bottom” which is an inflation adjusted measure takes a few years of flat nominal into the bottom of the bowl.

I don’t want a median house, the median house is POS. It’s a vapor number that drops in somewhere between a nice condo and a crappy SFR.