If we were discussing this graph in 2005 we wouldn’t have the same perspective that we have right now. That graph isn’t current, and as our recent history proves, prices didn’t level off after all.
Excellent point, Bugs. In San Diego for example, the Case-Shiller index is off about 8% over about a two year period. Factor in another 6-7% inflation and KA-BOOM, you already would have nearly a 15% decline from the peak.
