AN, I don’t see how that could be because he only has numbers from the boom. There is nothing pre-1999. Even if you disagree about when the boom started, he shows the same rough number through 2005, which I think we can all agree is about as bubbly as it gets.

I’m also not certain that sdr has ever asserted that buyers from that era have particularly strong holding power. Plenty do, to be sure, but most of the distress still seems to be coming from that purchase timeframe.

I guess that’s also part of my point, we’re probably not minus 770 per year post-2005 because you’ve got to include at least a “few” of the 1999-2005 sales in the “above norm” category. Don’t you?