Also, At 3% inflation it takes about 23.5 years for a price to double. Prices in 1996 were an overshoot to the downside. Given the scope of this bubble I would not be surprised to prices overshoot to the downside at about 2001 nominal pricing for the best areas. I’m already seeing this type of pricing in good areas.[/quote]
What areas are you seeing 2001 prices ?[/quote]
Good question, especially since s/he mentions good areas. I am looking in PQ, CMR, UC, Carlsbad and I see prices at the nominal level of 2003-2004, which is quite a bit higher than 2001…
