Actually, I’ve understood you to be saying something more dire.
Not only are we not done depreciating, but that we’ve seen this big depreciation already on the best of the available housing crop.
And as you pointed out, Jan 2003 to Dec. 2003, lower end housing rocketed. So while we are likely back and possibly past winter ’03/’04 pricing, there’s a long way to go to early 2003 pricing.
