Ok, so Powayseller posts data points, and Murray goes off of feeling.
Period.
I just posted a 200K difference in Comps. As far as Joe San Diegan who gets all their RE info from the YOY report this is the first they have heard it was down.
Also in my nabe, one house started a year ago at 1.3 mill, and is down to 950, and still it sits. All it takes is for one forced to sale to wreck neighborhoods. Here is a near 27% shaving for a house that has sat empty for several months. Someone is burning through some serious cash and nobody wants the house. And, this is just the beginning of the down cycle. The person paid 650, in 2003 so they are still up but how much longer can they burn cash and still pay 6% commission to unload.
