Depends on what you consider the bottom, but things started going non-linear by 2001 and stupid a couple years after that.
On the comment you’re asking about, I don’t know how to phrase it more clearly, but I’ll try. sdrealtor asserts that ~2000 is the norm and since we’re around 1300, the demand backlog is growing at 700 units a year. Seems possible that some of the 2000 number could be above norm, so the backlog might not be as great as he posits.
(also, I understand that sdrealtor isn’t counting the new homes in this, but that just introduces more complexity to the comparison)
By the way, does this sound like “shadow demand” to anybody?
