sdr I think you got everyone whipped up with the statement about lots of homeowners with alot of equity moving on!
One thing that also needs to be taken into account is what were the original list prices to begin with. The other is, what is the actual quality of the home.
Many moons ago you made a VERY PERTINENT statement about there may be alot of good deals out there, but not alot of good homes. I think this is still holding very strong, especially in the more desireable areas. To me someone knocking 50k off a 949k list price or even an 800k list price doesn’t mean much at all. I think the sales volume will bear that out. This statement is not to disagree with you but more to point out to the board that (at least in my opinion) this is not indicative of a major chunk downwards yet.
