zk I am a bit to busy to go back and gather the data to determine what was peak pricing and then compare it to comps.

I prefer to think of the direct bottom line. Speculating about who is and who is not underwater is useless. People cling to the notion of the underwater inventory for reasons that elude me. Even if there is the vast underwater inventory that these people hope, for the govt has already shown us that there is no moral hazard and that these people will be bailed out through programs already in place.

So what does it matter?

I am seeing exactly what Jim is writing about. It is sheer carnage in the middle pricing tier under 1M.

The only real mystery is why the lack of inventory.