Here’s my question: Would it be so hard for the government (or someone else) to keep track of sales prices on a per square foot basis, calculating medians for sales in the following three categories: less than $500K; greater than $500K and less than $1MIL; and greater than $1MIL? And then to do the same thing for listings as well? This information along with days on market would give everyone a much better feel for what’s actually going on out there.
Granted, this too would not be perfect, but it would be a hell of a lot better than the data we get from these clowns. There’s gotta be some research outfit out there already doing this sort of statistical work on behalf of institutions (hedge funds, private equity, etc.) and I’m ashamed to admit that I don’t know who or where they are. But I’m going to look into it…
