[quote=Eugene]
I think that there’s a bit of a disconnect at the high end. If you take one of those condos and pick a SFR in La Jolla that sold for the same price as the condo before the bubble (say, 500k in 2000) … today, the condo may be listed for 650-700k and the house may be listed for 850k.[/quote]
I’d say the greater disconnect is at the low end. The numbers you give are pretty close to the dividing line between Monopoly Money no money down FHA loans and loans that are given by banks backstopped by the FDIC and Fed purchases etc. So one market’s prices are 99% held up by taxpayer money, and the other is held up only 80%. Both still have prices that you’d expect with such an arrangement – crazy high – but the low end is the craziest.
