I’m from the “being early is being wrong” school. Instead of calling a top in ’01, anyone who bought then is likely to still have a tremendous return on their investment. Even after the devaluation we have seen so far. Yes there are some exceptionally bad areas that have been crushed but there are alot of areas in SD where values are still way up over ’01 numbers. Owners could probably discount their properties for a quicker sale and still end up with a very nice profit. Tax-free if they’re living there.
