sdcellar, so you’re asserting that we’re in bubbly sale level 2-3 years after the bottom. Am I understanding this correctly?
Resale staying flat between 1999-2005 might be because there were quite a few new construction around that time frame? It would be nice if sdr give numbers further back. We might then see if your point is valid or not.
I agree with you that there’s more distress coming from people who bought at/near the peak. That’s obvious. What I get from sdr’s post is that, there are plenty of people in NCC who have the $ and holding power, that’s why it hasn’t crashed like other areas. How else would you explain why NCC hasn’t crash as hard (excluding the $2M+ houses).
I don’t get what you’re trying to say with:
[quote=sdcellar]I guess that’s also part of my point, we’re probably not minus 770 per year post-2005 because you’ve got to include at least a “few” of the 1999-2005 sales in the “above norm” category. Don’t you?[/quote]
Can you clarify?
