I thought it was a bad sign that Mr. Mortgage was referencing the median price instead of the Case-Shiller HPI. He didn't seem to understand that the median price continued to rise into 2007 because of a change in the mix of sales. He also didn't seem to understand that the rapid fall in the median price since its 2007 peak was exaggerated due to a change in the mix of sales. It suggests to me that this person might not be too thorough with his research. I'd have a hard time trusting his conclusions.
I mentioned that to him and hopefully he'll start including CS HPI numbers. Problem with that is that the CS reports lag real time so it is tough to show with real time inventory data. Since Rich has shown how median is a well spun and lagging indicator I hope MrMortgage will take the advice and at least reference CS for real pricing trending.
