I think you read way too much into Steve’s comment. He was specifically talking about the impact of increased competition among resales in a subdivision that is still under construction. I thought the comment was both accurate and very supportable with the data.
He did not suggest that there would be neighborhoods that are immune or insulated from a collapsing price structure.
Steve and I disagree as to the extent of the market correction but we don’t disagree that all the segments of the housing market here are ultimately connected and that all will be affected to one degree or another by widespread price corrections.
