Sd, I think you are right in general terms, but there is always that one house with the crappiest lot in the worst shape that can pop lower than the norm. I’ll stick by my earlier observation, this is the top 10% of the stock, even in the midst of a meltdown it has a greater value, it’s not a median area or a median home, so to think it will hit the median price is foolish.
But you are in the trenches, not I, if one listed tomorrow in the 6’s, you know there would be thirty offers by sundown, inventory is so bad the shadow inventory isn’t even going to make it whole.
It’s this kind of stuff that makes me mildly bullish, we ran our formulas two years ago ingoring the msm and popular sentiment, why should we abandon that math now just because the msm and popular sentiment has changed.
