Rustico,
Sorry but you are completely off base. I am a bear not a bull and believe prices will fall. I wouldnt be here if I didn’t. My question for JG re: La Jolla was whether the low median price he quoted of 395K was representative or just yet another problem with using median price data. Those of us who have been around here for a long time fully understand the weakness of the using a median price yet occassionally one of us will pull it out to justify what we believe. If you read my message you will see I said ther was no individual tx data prior to 1995 but wished that there was so we could examine what really happened.
I wasnt taunting JG at all, at least that wasnt my intention. I posted a hypothesis and then went back to test it providing some examples of pricing as far back as I could get. Frankly, I dont think there is person on this board that wouldnt love to see those prices in LJ again, present company included.
RE: CV for inventory of SFR’s to drop 10% through the 1st 2 weeks of May is not insignificant. It is a sign that supply and demand are far more in balance than many of us, myself included, hoped for. I report on what I see not what I hope for. What I hope for is extraordinarily strong affordability so all the great folks out here with solid careers can afford to live in the type of neighborhoods they really deserve and provide their families the type of environment I’ve been fortunate enough to land in. Believe me, i’m no genius and I truly feel blessed to have what I do.
Lastly, you are completely off base with the outing of Powayseller. I NEVER did that….NEVER. She stepped forward and made herself public out of choice.
