I think I might have to call myself on lack of data before some one else does :)! An implosion was my street level perception and I would even say experience of what was happening. I do know that foreclosure and other data alone does not support what I am saying about a great early 90’s bust on a county wide level and I shall make a mental note to remember that.I think that would show a slide,county wide, through the 90’s with some extreme lows spread around in each year and then growing strength since around 98′. I am still tryin to figure out why the union tribune would have us believe that the median price decrease was something like 15% peak(89) to trough (98) I mistrust that and call it ” Revisionist” But I think I am starting to see the light as to why I could have seen what I did and a number like that isn’t a lie or at least not as big of a lie as I have been in the habit of believing it was. If my perception is not completely on track it may be skewed by the fact that I was of a “Bargain Hunting” mentality in general and more familiar with areas at that time that did in fact have some very large and broad price declines early on . It is that old logic problem of using the exceptions for the rule.It was ugly though!But that is about the last cycle and I can be wrong about this new one until proven otherwise!Faster and deeper it is!
Best wishes
