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  1. CA renter
    October 29, 2008 @ 11:46 PM

    Wow. Based on those charts
    Wow. Based on those charts it looks like we might be near-ish the long-term trendline. Am I missing something?

    While the lower-end homes are definitely near traditional levels of affordability (without a recession), the high-end just seems way out-of-whack, IMHO.

    Thanks for the graphs, Rich!

    • cr
      October 30, 2008 @ 10:31 AM

      It may be close, but it will
      It may be close, but it will almost definately overshoot it. As Rich said these are based more on July when things overall were better than they are today.

      Given the economy today – credit/lending, confidence, unemployment – think about where the path of those lines will go: up, down, flat?

      Me thinks down.

  2. Anonymous
    October 31, 2008 @ 12:40 PM

    With the so called “bailout”,
    With the so called “bailout”, it will down at least 4 more years. Without the “bailout”, it will down probably 1.5 years.

    • mike92104
      October 31, 2008 @ 8:36 PM

      Also have to remember that
      Also have to remember that many pockets of town have not depreciated very much, or at least not as much as the aggregate.

      • jpinpb
        November 1, 2008 @ 6:00 PM

        I have to say the coast has
        I have to say the coast has been resistant. I have seen some impressive declines along the coast, but only condos, the weakest link. There’s been some NODs and foreclosures on some homes along the coast, but the banks are not reducing greatly on SFH

      • peterb
        November 2, 2008 @ 10:53 AM

        Is there a way to see C/S
        Is there a way to see C/S sectored out by zip code?

      • sdrealtor
        November 3, 2008 @ 7:08 AM

        One of our own has done some
        One of our own has done some nice work in San Diego in this regard on his blog.

      • peterb
        November 3, 2008 @ 10:16 AM

        sdhpi is a start. But zip
        sdhpi is a start. But zip codes would be so much more useful as they usually reflect a geographical area that approximates an area as a neighborhood. Especially in the SD City limits.
        I wonder if the MLS has enough relevant data for this that’s available? The data is out there somewhere. Like county records,etc…but mining and correlating it could be a real pain.

      • Eugene
        November 3, 2008 @ 1:06 PM

        Individual zip codes are too
        Individual zip codes are too small and they often result in noisy c/s charts. Houses don’t sell exactly for what local c/s tells them. Sales prices can deviate 15-20% from the average, especially in non-tract areas. If you only have 5 repeat sales in a zip code in a given month, your ability to identify the average is greatly impaired. SDhpi uses aggregate multi zip code zones out of necessity.

      • peterb
        November 3, 2008 @ 1:22 PM

        Yes, that’s why I was
        Yes, that’s why I was thinking MLS and county records. Mostly MLS data, I guess. Since it’s easier to access. This way I can see the properties and correlate to same square footage and some other somewhat constant comparables. Same house sales is limited as the average ownership is something like 7 to 10 years. Apples-to-apples comparisons is great, but narrow data sets can be very misleading or incomplete. Especially when aggregated over a very large area.

  3. coxapple
    November 4, 2008 @ 1:20 PM

    Coop. Those figures are mid
    Coop. Those figures are mid July after escrow and about end May for the signature. So they are essentially spring decisions. You can see the seasonality in the chart for the mid and upper prices ranges. So by now, end Oct /early November, FIVE MONTHS later, the spring effect will be out and five months more falls. it might be 8-10% below the end of these graphs as we speak… mid 01 in inflation adjusted terms.

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