Thanks for the comment SD Realtor… But what I was really driving at was the lack of proper data currently in the marketplace. Literally nothing the newspapers print has any real basis in fundamentals or reality. The statistics they quote are given by Realtors, or economists, none of who are really doing a full analysis. Median prices, ignoring all the other factors, and a manipulated system of days on market, comps and appraisals. It takes sites like this one (which have a limited audience) to even get close to the truth.
The public has no reasonable way of monitoring the housing market, it is not an efficient market as the transaction costs (realtors, and other closing costs) are so high as to create a market which is unlike almost any other. It’s happening too slowly, but the transaction costs need to be dramatically lowered, which will then put real pressure to only have quality real estate professionals in the business as there will be much less pie to slop around.
