Hard to believe sdrealtor created this thread only two months ago.
I think we had concerns about credit contractions at the time but I don’t believe anyone spelled it out quite as it has occurred. Sales volume and inventory are pretty much tracking expectations. What evidence do we have of REO price slashing? Other catalyst for a “Big Chunk” to be ripped out or on the other hand support for a rationale of slow decline ,3%-4%, per calendar year?
I am definately not any less in the big chunk mode(10% in six months,nearer to 20% in a calendar year startin in june 2007). I wouldn’t stipulate that the median would reflect it, only that we could provide vast sales representative of those kinds of of declines occuring fairly broadly in the county. Condo conversions in some areas are definately a done deal for that. We have sporadic examples of detached SFR’s,which sometimes are rightly or wrongly concluded as fraud.
