Naw. Not really. I have a house and hope to buy a different one in about 5 years. The median has gotten killed. Another 25% would really be bad news. I’m more concerned w/ staying employed than housing prices at this point.
Plus, I’m relying on a statistical anomaly to win. I think price reductions at the low end are just about done, and suspect the future damage will be done in properties above the median which will have little affect on the median at all.
Note how in the early days of the crash, the low end was getting killed. In fact, it bumped up as low-end sales reduced. We all saw it, but the median barely moved. Then, as it hit middle ground, the median collapsed. As it moves past the median, I suspect the movement of the median will slow dramatically even as some neighborhoods get creamed. Sales reductions on the high end, though, will push it down a bit.
Not sure I’d take the “under 25%” position if it were Case-Schiller. Maybe I would. Yeah. I think I would.
So the magic number is 228,750.
Can anyone clarify what median measure was $305K in Nov ? Was it all sales or resales ?
