PS, I was here, don’t remember that. I remember everything being a wreck. I also don’t remember the homes dramatically depreciation in nominal dollars. They trickled down 10, 20K year, home medians were in the high twos/low threes. They took some hits, but not 50%. The bulk of the loss in the last down turn was due to inflation catching incomes up.
I also remember all my coworkers talking about wanting to get out of their upside down loan but not being able to. And others tough talking about getting the bank to forgive some of the equity loss, but it not occuring. We’re talking losses that pale compared to the equity run up lately.
I think the voice of San Diego site had the historical housing median price numbers on it. You can look, they simply didn’t implode, they trickled down.
