jg, could you stop with the passive agressive behavior? Correcting my spelling, i.e. one typo in the thousands of words I write? Taunting me for not updating a blog that my son wrote for fun this summer? What is your point? If you have a problem with my comments, address them directly. Are you still mad that I corrected your understanding of “reserves on ice”? I was corrected by my brother to include repurchase agreements to our discussion, in which case the flow of money is even greater (although my points still holds true). Or are you mad that I disagree with you on the median? Why do you try to belittle people that disagree with you?
The median lags because prices are falling more than the median shows. Prices on each home have fallen more than 5%. Anyone who thinks the median is accurate would have to believe that most homes in San Diego have fallen 5% off their peak. I just haven’t seen the data to support that. As the realtors here write, we are back to 2003/2004 prices.
How is the Case-Shiller index calculated anyway? If they take same-house sales, would they take a May 2000 sale at $350K, and then look at the most recent sale in October 2006 at $600K, and figure that house gained in price? How do they figure out the peak, and subtract the price of the October 2006 house from the actual peak?
Those wondering about my website: I’m forming an S Corporation, under advice of my attorney and CPA to be effective after January 1, to avoid the $800 annual fee for 2006. The website has a forum, and a premium content area (paypal payment). It is a .com address, so not a blog. It’s a southern California housing forecast, and the entire forecast will be in the premium section. Also covered will be insider interviews, some interesting new stories on the new fraud going on out there, and much more. I don’t want to keep advertising my site here, so I respectfully request that posters refrain from asking me about it. This is Rich’s site. When I am ready, I will make one thread and announce it to all.
