[quote=AN]Got it now. I agree that bubble is unnatural. Yet, even with these unnatural purchases, resale today is still down to ~1996.[/quote]Actually, based on the new information (which you probably hadn’t seen yet), it looks like maybe not so much, at least in one of the zips in question.
That, combined with what you made me realize regarding new housing stock from ’99 on, makes me wonder how much of the resale in the other two zips actually was churn on the newer product. This ties neatly back into that whole tenure discussion.
